Swiss Market Ends Marginally Down

After opening on a firm note and holding in positive territory till an hour before the closing bell, the Switzerland stock market slipped into the red and ended marginally down on Friday.

Concerns about economic slowdown, and looming interest rate hikes by global central banks weighed on the market.

The benchmark SMI, which climbed to 11,615.40 in early trades, ended the session with a loss of 21.04 points or 0.18% at 11,529.16.

Lonza Group and Alcon ended lower by 1.5% and 1.1%, respectively. Logitech, SGS, Geberit and Roche Holding shed 0.8 to 1%.

Richemont climbed nearly 1%. Swisscom and Swiss Life Holding gained 0.65% and 0.4%, respectively.

Among the stocks in the Mid Price Index, AMS drifted down 4.6%. VAT Group, Dufry and Bachem Holding lost 1.7%, 1.5% and 1.1%, respectively.

Lindt & Spruengli and BB Biotech gained about 1.5% and 1.25%, respectively. Barry Callebaut, Lindt & Spruengli N, Adecco, Tecan Group and Galenica Sante shed 0.5 to 1%.

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