Swiss Market Edges Down Marginally After Choppy Ride

(RTTNews) – After a choppy ride, the Switzerland stock market ended marginally down on Friday with investors largely staying cautious and refraining from making significant moves.

Worries about the economic impact of the ongoing war in Ukraine and looming interest rate hikes weighed on the market.

The benchmark SMI ended lower by 9.78 points or 0.08% at 12,121.67. The index, which climbed to 12,169.14 in early afternoon trades, dropped to a low of 21,072.06 in the final hour before regaining some lost ground.

Givaudan and Geberit shed 2.27% and 2.1%, respectively. SGS, Sika and ABB closed lower by 1 to 1.2%.

UBS Group, Swiss Re, Roche Holding and Logitech gained 0.5 to 0.8%.

Among the stocks in the Swiss Mid Price index, Temenos Group ended 3.25% down. Kuehne & Nagel declined 2.25% and VAT Group ended nearly 2% down. Ems Chemie Holding, BB Biotech, Georg Fischer and OC Oerlikon Corp shed 1 to 1.33%.

AMS rallied 2.25% and Dufry climbed nearly 2%. Helvetia, PSP Swiss Property and Swiss Prime Site also closed notably higher.

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