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Swiss Market Ends Notably Lower Again
(RTTNews) - Save for a brief while at the start, the Switzerland stock market languished in negative territory on Friday as fears about a global economic recession rendered the mood bearish.
The Swiss National Bank raised its interest rate by 0.5 percentage point on Thursday and said it cannot rule out further tightening in the policy rate to counter rising inflationary pressures.
The benchmark SMI ended with a loss of 109.76 points or 1.01% at 10,770.38.
All the components of SMI ended in negative territory.
Logitech, Partners Group, Alcon, Sonova, Givaudan and Sika lost 2.2 to 3.4%.
Lonza Group, Swisscom, Swiss Life Holding, Richemont, Zurich Insurance Group and Geberit ended lower by 1.4 to 1.8%. UBS Group and ABB also ended notably lower.
In the Swiss Mid Price Index, Swiss Prime Site and PSP Swiss Property both ended lower by 3.8%.
Temenos Group, Zur Rose, Flughafen Zurich, Tecan Group, Straumann Holding, VAT Group and SIG Combibloc shed 2 to 3%.
Kuehne & Nagel, Georg Fischer and Galenica Sante gained 0.5 to 1%.
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