Swiss Market Ends Sharply Lower
(RTTNews) - The Switzerland market ended sharply lower on Thursday, like most of the markets across Europe, as higher bond yields and rising oil prices continued to hurt sentiment, prompting investors to exit counters.
Data showing an acceleration in Swiss consumer price inflation in September hurt as well.
The benchmark SMI, which stayed weak right through the day's trading session, settled with a loss of 207.49 points or 1.5% at 13,622.85, slightly off the day's low of 13,609.15.
Julius Baer ended down 4.1%. Sandoz Group, Richemont, Holcim, UBS Group and Galderma Group ended lower by 3%-3.5%.
Amrize drifted down nearly 3%. Geberit, Lindt & Spruengli, Sika and Lonza Group lost 2.5%-2.7%. Alcon, Givaudan, Schindler Ps, Nestle, Novartis, SGS, Partners Group and Swiss Life Holding also closed notably lower.
Logitech International moved up 1.1%. Swiss Re and ABB posted modest gains.
Data from the Swiss Federal Statistical Office showed Switzerland's consumer price inflation accelerated in September to the highest level in just over two years.
The consumer price index climbed 1% yearly in September, faster than the 0.8% increase in August. Moreover, this was the highest inflation rate since August 2024, when prices rose 1.1%.
On a monthly basis, consumer prices remained flat in September after rising 0.4% in the previous month.
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