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The Switzerland stock market ended weak on Wednesday, weighed down by data showing investor sentiment to have plunged into negative territory in the month of August.<\/p>\n
Investors also looked ahead to the upcoming Jackson Hole Symposium for directional clues. The Fed policymakers are expected to present a timeline for tapering the bank’s bond-buying program at the virtual conference.<\/p>\n
The benchmark SMI, which briefly edged up into positive territory at the start, faltered soon and spent the rest of the day’s session in the red. It ended with a loss of 72.09 points or 0.58% at 12,364.57.<\/p>\n
ABB declined 1.47% and Roche Holding shed 1.16%. Novartis, Alcon, Givaudan, Nestle and Sika lost 0.7 to 0.85%.<\/p>\n
Credit Suisse climbed 3.15%, UBS Group gained 1.15% and Swatch Group advanced 1.1%.<\/p>\n
In the Mid Price Index, Cembra Money Bank ended lower by 2.3%. Tecan Group and Temenos Group both shed nearly 2%. Logitech, Schindler Ps, Ems Chemie Holding, Schindler Holding and Swiss Prime Site lost 1 to 1.6%.<\/p>\n
Straumann Holding moved up 2.2%. Adecco, Julius Baer, Dufry and AMS gained 1.3 to 1.8%.<\/p>\n
The Swiss investor sentiment index declined by 50.6 points from the previous month to -7.8 in August, falling into negative territory for the first time since March of 2020, amid renewed pandemic fears sparked by the rapid spread of the Delta variant, a report from Credit Suisse & CFA Society Switzerland said. Meantime, the assessment of the economic situation increased to 60.5 in August from 37.2 in July. <\/p>\n<\/p>\n<\/div>\n