Swiss Market Ends Moderately Lower

The Switzerland stock market closed moderately lower on Monday, reflecting a broader downturn seen across major European equity bourses. The Swiss benchmark SMI dropped 70.88 points, or 0.64%, to finish the session at 11,085.84, after fluctuating between an intraday peak of 11,144.60 and a trough of 11,052.39. Investor sentiment was heavily dampened by escalating concerns over aggressive interest rate hikes from global central banks, alongside mounting fears of an economic recession. Large-cap industrial and luxury components faced notable selling pressure, with heavyweights such as ABB, Lonza Group, Richemont, Logitech, and Sika falling between 2.1% and 3.5%. Banking giant UBS Group lost 1.7%, while Holcim, SGS, and Geberit fell between 1.0% and 1.32%. Mid-cap shares also struggled, led lower by Zur Rose which tumbled over 5%, while AMS, Temenos, and Swatch Group shed 2.5% to 4%. Defying the negative trend, Bachem Holding jumped 3.5% and Galenica Sante advanced 1.6%.