Swiss Market Ends Notably Lower
(RTTNews) - The Switzerland stock market ended weak on Friday after remaining in negative territory throughout the session, amid a sell-off in global equity markets amid concerns about returns on AI-related investments.
The benchmark SMI ended with a loss of 171.23 points or 1.14% at 14,796.50, the day's high. The index touched a low of 14,596.21 in the session.
Sandoz Group, up marginally, was the only gainer in the SMI index. Amrize, Roche and Julius Baer settled modestly lower.
Swiss RE ended down 4.55%. Kuehne + Nagel drifted lower by nearly 4%. Alcon, Lindt & Spruengli, Zurich Insurance and Helvetia Baloise Holding dropped 2%-2.5%.
Swisscom, Schindler Ps, Sika, Geberit, Galderma Group, Swiss Life Holding, Logitech International, SGS, Nestle, Sonova, Lonza Group, Straumann Holding and Givaudan ended lower by 1.2%-2%.
Survey data from the State Secretariat for Economic Affairs, or SECO, showed consumers in Switzerland remained more pessimistic in October, with the confidence level weakening to the lowest level in nearly three years.
The consumer sentiment index dropped to -45 in October from -37 in the corresponding month last year. The index also worsened from -36 in September. The expected score was -35.0.
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