Swiss Market Ends Lower Again

(RTTNews) - The Switzerland stock market ended on a weak note on Tuesday, extending recent losses, as inflation and growth worries, and looming rate hikes continued to hurt sentiment.

The benchmark SMI, which dropped to 10,122.51 a little before noon, ended the session with a loss of 54.69 points or 0.53% at 10,207.83.

Givaudan, down 6.8%, was the biggest loser in the SMI index. Sonova, Holcim, Partners Group, Sika and Alcon ended lower by 1.6 to 2.2%.

UBS Group, Swiss Life Holding, Swiss Re, Richemont and Geberit also ended notably lower.

Credit Suisse and Roche Holding advanced 0.76% and 0.53%, respectively. Novartis gained about 0.25%.

In the Mid Price Index, AMS, Kuehne & Nagel, VAT Group, Ems Chemie Holding and Swatch Group lost 2.5 to 3.2%. Flughafen Zurich, Temenos Group, Julius Baer and SIG Combibloc also declined sharply.

Galenica Sante, Roche Holding and Bachem Holding gained 1 to 1.4%. Lindt & Spruengli and PSP Swiss Property posted modest gains.