The Swiss market concluded Wednesday's trading session slightly lower, as stocks reversed their early gains, with the index dipping below the breakeven point in the last hour of trading. Investor sentiment turned cautious late in the afternoon, as market participants weighed the potential economic and geopolitical ramifications of Donald Trump's victory in the U.S. Presidential election.
The Swiss Market Index (SMI), which surged to 12,122.20 by mid-morning, marking a gain of over 250 points, ultimately closed with a decline of 18.72 points, or 0.16%, at 11,847.29.
Logitech International suffered a decline of nearly 5.5%. SGS ended the session down 4.7%. Shares of Straumann Holding, Givaudan, Geberit, and Kuehne + Nagel decreased by 2.5% to 3.5%.
Other notable declines included Nestle, Roche Holding, Schindler Ps, SIG Group, VAT Group, and Lonza Group, with losses ranging from 1.1% to 1.8%. Swisscom also saw a fall of nearly 1%.
Conversely, UBS Group surged 5.22%. Partners Group closed up by 2.71%, with Julius Baer rising approximately 2.25%. Swiss Life Holding, Holcim, and ABB posted gains of 1.82%, 1.55%, and 1.48%, respectively.