Swiss Market Ends Moderately Lower

(RTTNews) - The Switzerland stock market ended notably lower on Monday after staying in the red right through the day's session, in line with the trend in most of the markets across Europe.

Worries about aggressive monetary tightening by central banks, and fears of a recession weighed on stocks.

The benchmark SMI ended with a loss of 70.88 points or 0.64% at 11,085.84. The index touched a low of 11,052.39 and a high of 11,144.60 in the session.

ABB, Lonza Group, Richemont, Logitech and Sika ended lower by 2.1 to 3.5%.

UBS Group drifted down by about 1.7%, while Holcim, SGS and Geberit drifted down 1 to 1.32%.

Among the stocks in the Swiss Mid Price Index, Zur Rose ended more than 5% down. AMS. Temenos Group, Adecco, Georg Fischer, Clariant, VAT Group, Straumann Holding, Dufry and Swatch Group shed 2.5 to 4%.

Bachem Holding rallied 3.5%. Galenica Sante gained about 1.6%.