Swiss market ends with weak notes

Date:

The Swiss stock market, which fell slightly on Friday morning, continued to fall as the session progressed, ending the session with a weak note, despite showing some recovery in the last hour.

Benchmark SMI fell 72.46 points or 0.6% to 12,104.44 after scaling the daytime highs of 12,166.87 and lows of 11,958.69.

Givaudan shares have fallen by more than 6.5%. ABB decreased by 4.2%, while UBS Group and Credit Suisse decreased by 1.6% and 1.4%, respectively. Zurich Insurance Group was down 1.14% and Sika was down 1.05%.

Richemont, Archon, Swiss Life Holding and Swiss Re fell 0.6-1%.

Holcim shares fell 0.4%. Holcim announced that it has partnered with Eni to promote its carbon capture portfolio. This partnership is in line with Holcim’s Net Zero journey and Anyi’s commitment to decarbonize its sector.

Holcim said the new partnership will have more than 30 projects in the United States, Canada and Europe, adding a carbon capture and storage portfolio.

Lonza Group rose 2.54%. SGS rose 1.87% and Logitech, Swisscom and Geberit rose 0.4-0.75%.

Among the stocks in the Intermediate Price Index, The Swatch Group fell by more than 4%. Dufry, Georg Fischer and Adecco fell 2.2-2.5%. Flughafen Zurich, OC Oerlikon Corp, Zur Rose, BB Biotech, Julius Baer, ​​Clariant, Helvetia, and VAT Group lost 1-1.75%.

Lindt & Spruengli Part, Tecan Group, Lindt & Spruengli N increased by 1.9-2.3%. Galenica Sante rose nearly 1%. The Temenos Group, SIG Combibloc, and Sonova increased by 0.75-0.9%.

Economically, a leading indicator of turning points in Switzerland Economy It rose unexpectedly in January, showing a good outlook for the first time in eight months, and showing the results of a carefully monitored survey on Friday.

The economic barometer rose from 107.2 in December to 107.8, the highest in three months, and was revised from 107.0. The results of a monthly survey by the KOF Swiss Institute of Economic Research show. Economists expected the readings to drop further to 106.3.

This is the increase since May last year. The readings remained above the long-term average of 100.

“Currently, the Omicron wave can still have a negative impact, but the economic outlook is above average,” said a Zurich-based think tank.

Contact for comments and feedback: editorial@rttnews.com

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Swiss market ends with weak notes

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The post Swiss market ends with weak notes appeared first on Eminetra.

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