{"id":36455,"date":"2023-07-17T17:38:10","date_gmt":"2023-07-17T17:38:10","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2023\/07\/17\/swiss-market-ends-notably-lower-28\/"},"modified":"2023-07-17T17:38:10","modified_gmt":"2023-07-17T17:38:10","slug":"swiss-market-ends-notably-lower-28","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2023\/07\/17\/swiss-market-ends-notably-lower-28\/","title":{"rendered":"Swiss Market Ends Notably Lower"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> The Switzerland stock market opened slightly up on Monday, but soon dropped into negative territory and then spent the rest of the day&#8217;s session in the red.<\/p>\n<p>Worries about economic slowdown amid tighter monetary policies from central banks weighed on the market.<\/p>\n<p>The benchmark SMI ended with a loss of 133.99 points or 1.21% at 10,976.20, near the day&#8217;s low.<\/p>\n<p>Richemont shares plunged 10.4% after its sales figures showed a slowdown in U.S. demand. Richemont chief financial officer Burkhart Grund reportedly told anaylsts that there was no change to the full-year outlook for the group. <\/p>\n<p>He is also reported to have said US sales had already started to pick up in June after slumping in May, but they were &#8220;not out of the woods yet,&#8221; and sounded a note of caution on the 2024 US elections, which tended to have a damping effect on luxury demand.<\/p>\n<p>Givaudan, Sonova, Partners Group, Geberit, Roche Holding and Kuehne &amp; Nagel lost 1 to 2%.<\/p>\n<p>Alcon ended nearly 1% down. Holcim, ABB, Lonza Group and Nestle lost 0.4 to 0.8%, while Sika and Logitech both gained about 0.65%. Swiss Re, UBS Group and Swisscom posted modest gains.<\/p>\n<p>In the Mid Price Index, Belimo Holding, Straumann Holding and Swatch Group lost 4.2%, 3.1% and 2.5%, respectively.<\/p>\n<p>Georg Fischer, Lindt &amp; Spruengli, PSP Swiss Property, Clariant and SGS ended lower by 0.8 to 1.6%.<\/p>\n<p>Adecco climbed 1.6%. Bachem Holding, Temenos Group, Meyer Burger Tech and DocMorris gained 0.3 to 0.7%. <\/p>\n<\/p>\n<p>Market Analysis<\/p>\n<\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>Swiss Market Ends Notably Lower<\/a><br \/>\n<br \/>2023-07-17 17:38:10<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Switzerland stock market opened slightly up on Monday, but soon dropped into negative territory and then spent the rest of the day&#8217;s session in the red. Worries about economic&#8230;<\/p>\n","protected":false},"author":2,"featured_media":36456,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.unsplash.com\/photo-1531412501799-1b4c354ca957?ixid=MXwxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHw=&ixlib=rb-1.2.1&auto=format&fit=crop&w=2734&q=80","fifu_image_alt":"","footnotes":""},"categories":[29],"tags":[],"class_list":["post-36455","post","type-post","status-publish","format-standard","has-post-thumbnail","category-euro-markets"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/36455","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=36455"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/36455\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/36456"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=36455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=36455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=36455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}