Swiss Market Ends Moderately Lower

(RTTNews) - The Switzerland stock market ended moderately lower on Monday after staying weak right through the day's session, amid lingering concerns about inflation, rising interest rates and their impact on economic growth.

The benchmark SMI ended with a loss of 79.32 points or 0.71% at 11,141.90, slightly off the session's low. The index touched a high of 11,205.20.

Novartis ended nearly 2% down. Lonza Group closed lower by 1.51% and Roche Holding drifted down 1.27%.

UBS Group lost nearly 1%. Nestle and Swiss Re ended lower by 0.72% and 0.52%, respectively. Alcon ended 0.42% down.

Sika climbed 1.16% and Richemont gained 0.75%.

In the Mid Price Index, Bachem Holding shed 5.5%. SGS, Tecan Group, SIG Combibloc, DocMorris and Barry Callebaut lost 1 to 1.6%. Adecco ended nearly 1% down.

VAT Group gained nearly 1%. Julius Baer, Flughafen Zurich and Straumann Holding advanced 0.4 to 0.5%.