Swiss Market Ends Sharply Lower

(RTTNews) - The Switzerland stock market ended sharply lower on Thursday, in line with other markets across Europe, as risk sentiment waned amid concerns about higher interest rates and their impact on economic growth.

The benchmark SMI ended with a loss of 207.14 points or 1.85% at 10,986.78, slightly off the day's low.

All the components of the SMI index ended in negative territory.

Holcim, Partners Group, UBS Group, Richemont, Geberit and Sika lost 3 to 4%.

Logitech ended nearly 2.5% down. Roche Holding declined 2.2%, while Swiss Life Holding, Swiss Re, Kuehne & Nagel, ABB, Zurich Insurance Group, Sonova, Givaudan and Novartis lost 1.4 to 2%.

In the Mid Price Index, DocMorris, which surged nearly 6%, was the lone gainer.

AMS declined 5.6%. Temenos Group lost 3.33% and Julius Baer ended nearly 3% down.

Straumann Holding, Swatch Group, Bachem Holding, Flughafen Zurich, Swiss Prime Site, Schindler Holding, Barry Callebaut and Tecan Group lost 2 to 2.6%.