September 29, 2022

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Swiss Market Ends Slightly Up After Choppy Session

1 min read

The Switzerland stock market ended slightly up on Tuesday after a choppy session as investors appeared quite reluctant to make significant moves amid worries about slowing growth and looming interest rate hikes.

The benchmark SMI ended with a gain of 5.12 points or 0.04% at 11,534.18. The index, which climbed to 11,547.54 around mid morning, dropped to a low of 11,493.48 around mid afternoon before recovering to close slightly higher.

Swisscom drifted down 1.44%. Nestle, Sika, SGS and Roche Holding ended lower by 0.7 to 1%.

Swiss Re, Credit Suisse, Alcon, Lonza Group and Richemont gained 1 to 2%. Holcim and Zurich Insurance Group both moved up nearly 1%. UBS Group, Partners Group, Swiss Life Holding and ABB also closed higher.

Zur Rose, down 4.2%, was the most prominent loser in the Swiss Mid Price Index. Ems Chemie Holding ended lower by 3.1%, while Swatch Group, Temenos Group and Kuehne & Nagel drifted down 1 to 1.3%.

Clariant rallied more than 3%. Julius Baer climbed 2.2%, while BB Biotech, Sonova, Tecan Group and Georg Fischer gained 1 to 1.5%.

Data from the Swiss National Bank showed foreign exchange reserves in Switzerland decreased to CHF 925,430 Million in May from CHF 926,050 Million in April of 2022.

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2022-06-07 13:05:59

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