Swiss Stocks Close Notably Lower On Weak Global Cues

(RTTNews) - The Switzerland market ended weak on Tuesday, in line with markets across Europe and elsewhere, as worries fears of Artificial Intelligence bubble, uncertainty about interest rates, and a lack of positive economic data rendered the mood bearish.

The benchmark SMI settled with a loss of 115.87 points or 0.92% at 12,481.95. The index dropped to a low of 12,440.31 in the final hour.

Richemont shed 4.51%, and ABB ended lower by about 4.1%. Novartis, VAT Group and Straumann Holding settled lower by 3.3 to 3.6%.

Julius Baer, Sonova, Sika, Geberit, Swatch Group, Holcim and Alcon lost 2.2 to 2.7%.

Amrize, UBS Group, Lonza Group, Sandoz, SGS, Zurich Insurance and Swiss Life Holding also ended sharply lower.

Roche Holding climbed about 6.8% after the company announced positive results from its phase 3 trial of its investigational oral selective estrogen receptor, Giredestrant, in patients with early-stage ER+/HER2- breast cancer, dubbed lidERA.