Swiss Market Ends Moderately Lower

(RTTNews) - The Switzerland stock market ended lower on Friday, in line with markets across Europe, as concerns about outlook for interest rate hikes by the Federal Reserve and the European Central Bank, and a global economic recession hurt sentiment.

The benchmark SMI ended with a loss of 87.27 points or 0.78% at 11,130.46, nearly 100 points off the day's low of 11,034.48.

Givaudan shed about 2.7%. Sonova, Logitech and Sika lost 2 to 2.2%.

Richemont, Alcon and Partners Group ended lower by 1.5 to 1.8%. Lonza Group, Holcim, Swiss Re, Geberit and ABB also closed notably lower.

Credit Suisse, which plunged sharply in the previous session, gained 3.35% today on bargain hunting. Swisscom and Nestle posted modest gains.

In the Mid Price Index, Georg Fischer, Bachem Holding, Belimo Holding, VAT Group, Zur Rose, Clariant, SGS, Schindler Holding, Straumann Holding, Adecco, Schindler Ps and Flughafen Zuruch lost 2.2 to 3.3%.