Swiss Market Ends Weak Amid Escalating Tensions In Middle East

(RTTNews) - The Switzerland market ended on a weak note on Wednesday, in line with most of the markets across Europe, as the mood turned cautious once again amid rising tensions in the Gulf.

Amid the ongoing conflict in the Middle East, Iran has reportedly issued a threat to US tech companies. Iran's Islamic Revolutionary Guard Corps (IRGC)-affiliated Tasnim News Agency published a list of US tech giants linked to Israel that are allegedly supporting military operations. The development came after Israel reportedly targeted a bank in Tehran.

The benchmark SMI, which moved between 12,883.62 and 13,002.04, settled with a loss of 106.60 points or 0.82% at 12,958.59.

Sonova ended 3.61% down, and Sandoz Group drifted down 3.5%. Givaudan drifted down nearly 3% and Galderma Group lost 2.3%.

Amrize, Julius Baer, Lindt & Spruengli, Roche Holding, Straumann Holding, Swiss Re, SGS, Geberit, Lonza Group and Partners Group lost 1.4%-2%.

Several other stocks including Sika, Swiss Life Holding, Schindler Ps and Holcim also ended notably lower. Logitech International gained 0.5%, and Richemont edged up marginally.