The Swiss market concluded Monday with a notable decline, spending the entire trading session in negative territory. Investors displayed a cautious stance ahead of the Federal Reserve's upcoming monetary policy announcement and the release of significant economic data, including U.S. consumer price inflation figures.
The benchmark Swiss Market Index (SMI) fell by 117.02 points, a 0.95% drop, closing at 12,137.74. Throughout the session, the index fluctuated between a high of 12,202.93 and a low of 12,096.55.
Nestle led the losses on the SMI, dropping nearly 2.5%. Sandoz Group slipped by 1.7%, while UBS Group, Lindt & Sprüngli, Roche Holding, Swiss Re, Richemont, and Straumann Holding recorded declines ranging from 1% to 1.4%.
Additional declines were seen in Swiss Life Holding, SGS, Novartis, Zurich Insurance, Schindler Ps, and Swatch Group, which all ended the day markedly lower.
Other notable weak performers included Avolta, Adecco, Flughafen Zurich, Galenica Santé, Tecan Group, Belimo Holding, Barry Callebaut, and Georg Fischer.
On the positive side, Givaudan rose by 1.11%, Holcim increased by 0.6%, and Vat Group, Geberit, and Lonza Group experienced marginal upticks.
In economic data, the State Secretariat for Economic Affairs reported that Switzerland's consumer confidence indicator remained relatively stable, registering -38 in May compared to -38.1 in April.
