Swiss Market Ends Marginally Down After Choppy Ride

(RTTNews) - The Switzerland stock market ended marginally down on Wednesday after a choppy ride with investors looking for direction ahead of crucial U.S. inflation data, due on Thursday.

The benchmark SMI, which touched a high of 10,249.91 and a low of 10,139.66, ended at 10,199.32, down 8.51 points from the previous close.

Credit Suisse ended lower by 4.2% on a Bloomberg report that it is facing a U.S. tax probe.

UBS Group drifted down 2.1%, Logitech shed 1.6%, Sonova ended 1.5% down, and Partners Group losst about 1.2%. Swiss Life Holding and Swisscom both lost nearly 1%.

Richemont rallied nearly 2%. Sika gained about 1.9%, while Swiss Re, Nestle and ABB posted modest gains.

Among the stocks in the Mid Price Index, Zur Rose ended lower by about 4.4%. Flughafen Zurich lost 2.7%, while Lindt & Spruengli, Temenos Group and SIG Combibloc declined 1.4 to 2%.

Baloise holding, Schindler Holding, Schindler Ps and Dufry also ended notably lower, while Swatch Group, Belimo Holding and Kuehne & Nagel gained 2.8%, 2% and 1.6%, respectively.