Swiss Stock Market Extends Losing Streak
(RTTNews) - The Swiss stock market suffered a late slump to wipe out early gains, stretching its losing streak to four sessions.
The market tracked most of the other major European markets which saw early strength by stumbled late.
The SMI has now given up almost 100 points or 0.8 percent in that span.
The early support for the markets was largely fueled by banks on optimism over the outlook for interest rates moving forward into 2026 - although comments from Chicago Federal Reserve President Austan Goolsbee threw water on those hopes.
The markets were also dragged lower near the end of the day by heavy selling among the technology stocks on concerns over valuations.
For the day, the index dipped 17.69 points or 0.14 percent to finish at 12,887.48 after trading between 12,875.16 and 12,998.50.
Among the actives, Adecco jumped 2.98 percent, while UBS climbed 2.51 percent, Compagnie Financiere Richemont tumbled 1.74 percent, Swisscom improved 1.46 percent, Swatch Group added 1.42 percent, Swiss Re expanded 0.89 percent, Swiss Life gained 0.67 percent, Novartis lost 0.45 percent, Roche Holding fell 0.35 percent and Zurich Insurance was up 0.07 percent.
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