Swiss Market Ends Slightly Lower

(RTTNews) - After a weak start and a subsequent long spell in negative territory, the Switzerland stock market briefly emerged in positive territory around late afternoon on Wednesday but ended the day's session marginally down.

The mood remained cautious with investors seemingly worried about economic slowdown and inflationary pressures.

The benchmark SMI ended with a loss of 10.75 points or 0.1% at 10,976.38. The index touched a low of 10,901.85 and a high of 11,000.52 in the session.

Alcon and ABB both ended lower by about 2.3%. Kuehne & Nagel drifted down 1.19%, while Givaudan and Nestle lost 0.88% and 0.8%, respectively.

Richemont, Sonova and Sika posted modest losses.

UBS Group climbed 1.26%. Roche Holding and Swiss Re both gained 0.77%. Swiss Life Holding ended 0.56% up.

In the Mid Price Index, DocMorris dropped 3.53% and Flughafen Zurich lost 2.81%, while Barry Callebaut, Tecan Group, Bachem Holding and SGS ended lower by 1 to 1.4%.

Meyer Burger Tech gained about 1.5%. Temenos Group ended higher by 0.87% and SIG Combibloc advanced 0.53%.