Swiss Market Ends Weak

Swiss equities ended lower as broader European risk sentiment deteriorated on rising inflation fears and a jump in coronavirus cases across several countries. The SMI fell 0.37% to 12,553.19 after briefly trading higher intraday. Domestic trade data also pressured sentiment, with Swiss exports down 1.5% month-on-month in October and imports down 4.4%, despite the trade surplus edging up to CHF 4.409 billion. Weakness was led by names such as Logitech, Holcim, Credit Suisse, UBS Group and Zurich Insurance, while Sika, Givaudan, Geberit and Kuehne & Nagel outperformed. The article suggests the market tone was broadly defensive, reflecting macro concerns rather than company-specific catalysts.