Swiss Market Ends Modestly Lower

(RTTNews) - The Switzerland stock market ended weak on Wednesday, in line with markets across Europea, as worries about economic slowdown, inflation and prospects of further monetary tightening by global central banks weighed on sentiment.

The benchmark SMI ended with a loss of 34.48 points or 0.31% at 10,924.42. The index touched a low of 10,859.02 and a high of 10,948.62.

Richemont ended 5.2% down, and UBS Group ended lower by 2.28%. Partners Group, Novartis and Roche Holding lost 0.6 to 0.7%.

Swiss Life Holding climbed 2.13%. Logitech, Sika, ABB, Kuehne & Nagel, Swiss Re and Givaudan gained 1.1 to 1.7%.

In the Mid Price Index, Meyer Burger Tech dropped 5.65%. Swatch Group, DocMorris and Bachem Holding ended lower by 2.3 to 2.7%.

Dufry, Tecan Group and AMS lost 1.3 to 1.5%, while Julius Baer, Temenos Group, Georg Fischer, SIG Combibloc and Straumann Holding ended lower by 0.7 to 1.1%.

Schindler Holding, Schindler Ps, Barry Callebaut and Clariant gained 1.3 to 1.6%. PSP Swiss Property, VAT Group and Baloise Holding also posted notable gains.