Swiss Market Ends On Weak Note

(RTTNews) - The Switzerland stock market ended on a weak note on Friday, tracking weakness in other markets in Europe, as worries about inflation and interest rates weighed on sentiment.

The benchmark SMI ended with a loss of 79.47 points or 0.72% at 10,900.30.

Lonza Group and UBS Group shed 2.48% and 2.4%, respectively. Richemont, Geberit, Novartis, Partners Group and ABB declined 1.4 to 1.7%.

Sonova ended 1.18% down. Logitech, Swiss Life Holding, Givaudan and Holcim also ended weak.

Roche Holding gained nearly 1%. Swiss Re ended higher by about 0.7%.

In the Mid Price Index, Tecan Group ended 5.67% down, and Belimo Holding declined nearly 5%.

Temenos Group, Meyer Burger Tech, AMS, Addeco, Swatch Group, SIG Combibloc, Georg Fischer, VAT Group and Straumann Holding lost 2 to 3.6%.

Data from Swiss Federal Statistical Office showed Switzerland's producer and import prices fell 0.1% from a month earlier in September 2023, following a 0.2% decrease in August. It also marked the third consecutive month of deflation, due mainly to lower costs of crude oil and natural gas.

Switzerland's producer and import prices shrank 1% year-on-year in September 2023, down from August's 0.8% drop.