FX.co ★ Swiss Market Ends Lower For 2nd Straight Day

The Swiss market concluded Wednesday on a weaker note, continuing a downward trend from the previous session, as investors opted to lock in profits following an extended winning streak.

Additionally, data revealing a larger-than-anticipated rise in the United Kingdom's consumer prices for April heightened concerns regarding the future trajectory of interest rates.

The benchmark Swiss Market Index (SMI) closed with a decline of 42.83 points, or 0.36%, settling at 11,958.67 after hitting a low of 11,929.56 during the session.

Notable decliners included Swatch Group, Richemont, and Swiss Life Holding, which fell between 2% and 2.1%. Roche Holdings ended down approximately 1.3%, while Novartis and ABB decreased by 0.78% and 0.72%, respectively.

Ems Chemie Holding suffered a 2.35% loss. Other laggards included Avolta, Barry Callebaut, Meyer Burger Tech, Helvetia, and Flughafen Zurich, with declines ranging from 0.5% to 1.7%.

Conversely, Alcon surged by roughly 2.5%, and SGS advanced by 2.3%. VAT Group, Straumann Holding, and SIG Group each gained nearly 1.4%. Holcim, Lindt & Sprüngli, Schindler Ps, and Sandoz Group also closed on a strong note.