Swiss Market Ends Moderately Lower

(RTTNews) - After a flat start and a subsequent uptick, the Switzerland stock market slipped into the red Thursday morning, and stayed weak right through the day's session to eventually close on a negative note.

Worries about growth and imminent interest rate hikes weighed on sentiment.

The benchmark SMI ended with a loss of 70.95 points or 0.65% at 10,774.64.

Sika ended more than 2% down. Partners Group drifted down 1.55%, while Givaudan, Richemont, Credit Suisse, Logitech, ABB, Geberit and Roche Holding ended lower by 1 to 1.3%.

Swisscom climbed about 0.8%. Zurich Insurance Group edged up marginally, while Lonza Group and Swiss Re closed slightly weak.

In the Mid Price Index, VAT Group lost 4.3%. Zur Rose ended nearly 4% down. Bachem Holding shed about 3% and Belimo Holding drifted down 2.4%.

Georg Fischer and Temenos Group both lost nearly 2%. AMS, SIG Combibloc and Tecan Group also ended notably lower.

Helvetia, Baloise Holding and Galenica Sante gained 1.2%. PSP Swiss Property and Swiss Prime Site advanced 0.84% and 0.69%, respectively.

According to a report from the Swiss National Bank, Switzerland recorded a current account surplus of CHF 24.1 billion in the third quarter of 2022, widening from CHF 21.8 billion in the corresponding period of the previous year.