Despite spending much of the trading session in positive territory, the Swiss market closed slightly lower on Friday. Several key stocks weakened in the latter part of the afternoon as investors digested inflation data from the European region and a report on U.S. personal consumption expenditures.
The benchmark Swiss Market Index (SMI), which had climbed to 12,058.05 around an hour past noon, ended the day with a marginal decrease of 10.48 points, or 0.09%, closing at 11,993.83.
Among the decliners, Givaudan and Straumann Holding both fell by about 2.1%, while Swatch Group retreated by 1.9%. Other notable losers included Richemont, Geberit, Sika, Julius Baer, and Sandoz Group, which shed between 0.9% and 1.25%. Roche Holding and Nestlé also ended modestly lower.
In contrast, Partners Group gained nearly 1.5%, and Swisscom advanced by 1.14%. Other gainers included Novartis, Lonza Group, Lindt & Sprüngli, Logitech International, and Kuehne & Nagel, which each rose by between 0.5% and 0.75%.
On the economic front, a report from the Swiss Economic Institute revealed that Switzerland's leading KOF economic barometer edged up to 102.7 in June from an upwardly revised 102.2 in May, surpassing forecasts of 101 and marking the highest reading since February 2022.
