Swiss Market Ends Modestly Lower
2024-12-16
4228
(fxcue news) - Swiss stocks found some support in late afternoon trades on Friday, but still ended the day's session on a weak note.
The mood remained cautious amid concerns about the outlook for global economy in the wake of tariff threats by the U.S., fears of a U.S. government shutdown, and recent hawkish comments from the Fed that interest rate cuts will be fewer next year than earlier forecast.
The benchmark SMI, which dropped to a low of 11,248.40 around mid afternoon, ended the day's session with a loss of 29.92 points or 0.26% at 11,394.92.
Sika ended down nearly 2.5%. Holcim and Zurich Insurance Group both closed lower by about 1%. UBS Group, Swisscom, Partners Group, Geberit, Swiss Re, Novartis and Nestle closed down 0.3 to 0.7%.
Shares of pharma company Idorsia tanked more than 50% after the firm announced delays to a rights deal related to its hypertension drug Tryvio.
Adecco climbed about 1.7% and SIG Group gained 1.33%. Sonova, Swatch Group and VAT Group closed higher by 0.7 to 1%. Lonza Group gained 0.53%.
Data from Swiss National Bank showed Switzerland's current account surplus narrowed to CHF 6.3 billion in the third quarter of 2024 from a revised CHF 16 billion in the corresponding period of the previous year.
Sign In via X
Google
Sign In via Google
This page link：http://www.fxcue.com/343664.html
Tips：This page came from Internet, which is not standing for FXCUE opinions of this website.
Statement：Contact us if the content violates the law or your rights
Tips：This page came from Internet, which is not standing for FXCUE opinions of this website.
Statement：Contact us if the content violates the law or your rights