Swiss market has fallen significantly

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After a positive start and a long spell along the line that followed, the Swiss stock market began to slip around mid-Tuesday afternoon and eventually ended the session with a very weak note.

Benchmark SMI fell 139.70 points (1.11%) to 12,411.58, the lowest of the day.

Both Richemont and Roche Holding fell about 2.65%. Lonza Group, Geberit and Partners Group decreased by 2.1-2.3%. Sika, SGS, Givaudan, Alcon, Logitech, and ABB fell 1.1-1.5%.

Credit Suisse and Swisscom rose 0.85% and 0.71%, respectively. Swiss Re and Novartis closed with a slight rise.

Among the stocks in the Intermediate Price Index, Straumann Holding fell 4.1%. VAT group decreased by 3.8%, while Tecan Group, Georg Fischer, Clariant, Sonova, AMS, and SIG Combibloc decreased by 2.5-3.1%.

Lindt & Spruengli, Kuehne & Nagel, Zur Rose, Schindler Ps and Logitech have also dropped significantly.

Vifor Pharma surged nearly 13% after Australian biopharmacy giant CSL announced that it would buy a Swiss pharmaceutical company for $ 11.7 billion.

Ems-Chemie Holding was up 4% and Duffrey was up about 1.6%.

In economic news, according to data from the Swiss Federal Bureau of Statistics, the rate of increase in producer prices in Switzerland fell from 0.6% in the previous month to 0.5% in November.

Prices for Swiss producers and imports rose 5.8% year-on-year in November, accelerating from a 5.1% rise last month. This was the highest producer and import inflation since October 1981. On a monthly basis, producer and import prices rose 0.5% in November, following a 0.6% rise in October.

Contact for comments and feedback: editorial@rttnews.com

Market analysis

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Swiss market has fallen significantly

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