Swiss Market Ends Weak For 3rd Straight Day

(RTTNews) - The Switzerland market ended modestly lower on Thursday after a choppy ride amid a lack of positive triggers. The recent inflation data from the U.S. has raised concerns that the Fed will keep interest rates higher for a longer period, and today, the ECB has maintained in its interest rates.

The benchmark SMI ended with a loss of 29.47 points or 0.26% at 11,465.74, declining for a third straight day. The index touched a high of 11,537.57 and a low of 11,427.48 in the session.

UBS Group dropped about 2.5%. Zurich Insurance Group, Swiss Re and Richemont lost 1 to 1.25%. Swiss Life Holding ended nearly 1% down.

Givaudan ended down by 0.65% despite posting higher first-quarter sales. ABB, Novartis and Swisscom ended modeslty lower.

Sika climbed 1.13%. Roche Holding, Sonova and Lonza Group gained 0.75 to 1%. Geberit, Nestle, Partners Group and Logitech International posted modest gains.

In the Mid Price Index, Meyer Burger Tech ended more than 8% down. Flughafen Zurich tumbled 4.2%. Swatch Group, SGS, Tecan Group and Avolta closed lower by 1 to 1.5%.

Clariant and Sandoz gained 2.82% and 2.59%, respectively. BKW gained 1.5% and Temenos Group advanced 1.3%. Barry Callebaut ended 0.88% up.