Swiss Market Ends Lower Again

(RTTNews) - The Switzerland stock market ended notably lower for a second straight day as worries about rising inflation and looming interest rate hikes triggered a sell-off on Wednesday.

The benchmark SMI ended with a loss of 137.14 points or 1.26% at 10,754.40, nearly 30 points off the session's low of 10,727.43. The index shed about 0.9% on Tuesday.

Nestle drifted down 2.65%. Geberit, Sika, Holcim, Novartis, ABB and Logitech ended lower by 1.4 to 2.1%.

Swiss Re ended 1.1% down. Lonza Group, SGS, Swiss Life Holding and UBS Group also closed weak.

Among the stocks in the Mid Price Index, Zur Rose ended 4.76% down. Schindler Ps, Schindler Holding, Georg Fischer, Lindt & Spruengli Part, Bachem Holding, Straumann Holding, Ems Chemie Holding and AMS lost 2 to 4%.

Sonova, Swiss Prime Site and Swatch Group bucked the trend and posted modest gains.