Swiss Market Ends Sharply Lower

(RTTNews) - The Switzerland stock market ended sharply lower on Friday, in line with markets across Europe, as rising concerns about inflation, interest rate hikes and surging coronavirus cases rendered the mood bearish.

The benchmark SMI, which tanked to a low of 12,304.02, ended the session with a loss of 205.16 points or 1.63% at 12,355.54.

Logitech declined nearly 6%. Richemont shed about 4.8% and Partners Group slid 3.45%. Credit Suisse, SGS, Sika, ABB, Lonza Group and Alcon lost 2 to 2.7%.

Swiss Life Holding, Novartis, Holcim, Zurich Insurance Group, Roche Holding and UBS Group lost 1 to 2%.

Among the stocks in the Swiss Mid Price Index, Straumann Holding, SIG Combibloc, Cembra Money Bank, Dufry, Kuehne & Nagel, BB Biotech, AMS and Temenos Group lost 3 to 3.8%.

Ems Chemie Holding, Adecco, Lindt & Spruengli, OC Oerlikon Corp, Swatch Group, Clariant, Schindler Holding, Sonova, Julius Baer and VAT Group ended lower by 2 to 3%.