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Swiss Market Ends Marginally Up

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(RTTNews) – The Switzerland stock market ended slightly up on Friday after a choppy ride, as investors largely refrained from making significant moves amid a lack of fresh triggers.

The benchmark SMI ended with a small gain of 10.47 points or 0.09% at 11,168.03. The index, which climbed to 11,140.38 in early trades, touched a low of 11,188.29 around mid morning.

Credit Suisse shares plunged 6.6% after the lender issued another profit warning, predicting a fourth-quarter pre-tax loss of up to $1.6 billion.

The bank also announced details of a bid to raise capital amid concerns over customers withdrawing funds.

Partners Group shed 2.28%, Richemont lost about 1%, while Logitech and Lonza Group both ended nearly 1% down.

Novartis climbed 1.12% and Roche Holding ended nearly 1% up. Holcim advanced 0.78% and Zurich Insurance Group gained 0.4%.

Among the stocks in the Swiss Mid Price Index, Zur Rose tanked 8.2%. Swatch Group ended 2% down, while SGS, AMS and Straumann Holding closed lower by 1.6%, 1.4% and 1%, respectively.

Bachem Holding, Galenica Sante and Schindler Holding closed notably higher.

On the economic front, data released by Swiss Federal Statistical Office showed Switzerland’s non-farm payrolls rose 2.2% year-on-year to 5.362 million in the third quarter of 2022, following a 3.2% advance in the previous quarter.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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