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After recovering from a weak start, the Switzerland stock market recovered and stayed positive till the final hour and finally ended marginally down on Friday.<\/p>\n
Activity was mostly stock specific and the mood remained cautious amid uncertainty about quantum of interest rate hikes by the Fed in the coming months.<\/p>\n
Data showing an increase in Swiss industrial production aided sentiment.<\/p>\n
The benchmark SMI ended lower by 10.87 points or 0.1% at 11,156.72 after scaling a low of 11,125.80 and a high of 11,241.18 intraday.<\/p>\n
Credit Suisse, UBS Group and Logitech declined 3 to 4%. Partners Group and Sika ended lower by 2.9% and 2.77%, respectively.<\/p>\n
Geberit drifted down nearly 2%, and Lonza Group ended 1.74% down, while Givaudan and ABB lost 1.14% and 1%, respectively.<\/p>\n
Novartis and Roche Holding gained 1.12% and 1.06%, respectively, while Alcon advanced nearly 1%.<\/p>\n
In the Mid Price index, Bachem Holding ended nearly 8% down. Tecan Group and AMS shed 5.4% and 4.6%, respectively.<\/p>\n
VAT Group, Dufry and Straumann Holding lost 2.5 to 3%. Adecco and Flughafen Zurich also declined sharply.<\/p>\n
Sonova, Zur Rose, Temenos Group and Lindt & Spruengli posted sharp to moderate gains.<\/p>\n
Data from the Federal Statistical Office showed industrial production in Switzerland rose 5.1% in the second quarter.<\/p>\n
Secondary sector production, which combines industry and construction, grew 4.1% annually in the second quarter. Construction output declined 1.3%.<\/p>\n
Industrial turnover advanced 9.5% in the second quarter and construction turnover rose 7%.<\/p>\n
The growth in production and turnover was uninterrupted since the first quarter 2021, the agency said.<\/p>\n
In June, industrial production rose 10.3% year-on-year, following a 4.6 percent growth in May. <\/p>\n<\/p>\n<\/div>\n