The Swiss market experienced a downturn on Wednesday, remaining in negative territory throughout the trading session as investors treaded carefully, seeking clear market directions. Sentiment was dampened by political unrest in France.
The Swiss Market Index (SMI) fell by 50.71 points, or 0.43%, concluding at 11,783.61. The index fluctuated within a narrow range of 11,753.28 to 11,828.36.
Notably, Novartis faced a significant decline, dropping 3.14%. Both Holcim and Kuehne + Nagel closed down by 1.31%, while Zurich Insurance Group saw a reduction of 1%. Additionally, Sandoz Group, Swiss Life Holding, Swisscom, Roche Holding, and Nestlé registered losses ranging from 0.3% to 0.8%.
Conversely, Logitech International saw a noteworthy increase of nearly 2.5%. Other gainers included SIG Group, Schindler Ps, ABB, and SGS, which advanced between 1.6% and 1.9%. Geberit, VAT Group, Alcon, Richemont, and Adecco ended with gains of 0.9% to 1.4%. Nonetheless, Lonza Group, Straumann Holding, and Partners Group concluded the session on a weaker note.
