logo
Plus   Neg
Share
Email

The Swiss Stock Market Pulled Back On Global Trade Concerns

The Swiss stock market endured a choppy trading session Wednesday, but spent much of the day in the green. However, the market slipped back into the red late in the afternoon and finished with a loss.

Worries about slowing Chinese growth weighed on investor sentiment. Traders are also keeping a close eye on developments around Brexit and Italy's budget. Rising bond yields has also made riskier investments like equities less attractive in recent days.

The Swiss Market Index decreased by 0.79 percent Wednesday and finished at 8,892.88. The Swiss Leader Index dropped 1.56 percent and the Swiss Performance Index lost 1.09 percent.

Luxury goods companies were under heavy pressure due to fears of a looming slowdown in Chinese demand as the U.S.-China trade war escalates. Swatch Group sank 5.4 percent and Richemont tumbled 4 percent.

Sika was another notable loser, falling 4.9 percent. SGS also finished lower by 3.3 percent. ABB and Geberit weakened by 2.9 percent each, while Lonza lost 2.6 percent.

The index heavyweights fared much better than the rest of the market Wednesday. Novartis climbed 0.5 percent and Roche added 0.06 percent. Meanwhile, Nestle slid 0.3 percent.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT