{"id":48261,"date":"2024-06-17T17:03:21","date_gmt":"2024-06-17T17:03:21","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/06\/17\/swiss-market-ends-lower-again-9\/"},"modified":"2024-06-17T17:03:21","modified_gmt":"2024-06-17T17:03:21","slug":"swiss-market-ends-lower-again-9","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/06\/17\/swiss-market-ends-lower-again-9\/","title":{"rendered":"Swiss Market Ends Lower Again"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> The Switzerland market briefly advanced to positive territory after a weak start Monday morning, but retreated swiftly and spent the rest of the day&#8217;s session in the red as investors stayed wary of picking up stocks amid a lack of significant triggers.<\/p>\n<p>Investors looked ahead to the Swiss National Bank&#8217;s monetary policy announcement, due later in the week.<\/p>\n<p>The benchmark SMI ended with a loss of 41.07 points or 0.34% at 12,003.52, nearly 50 points off the day&#8217;s low of 11,955.08.<\/p>\n<p>Straumann Holding ended down by 2.71%. Alcon drifted lower by 2.34%. Sonova dropped 1.88%, while Lonza and Novartis both ended lower by about 1.55%. <\/p>\n<p>Richemont lost 1.22%, while SIG Group, Roche Holding, Partners Group, Logitech International, Lindt &amp; Spruengli and Sika lost 0.7 to 1%.<\/p>\n<p>UBS Group rallied 2.15%. Julius Baer and Swiss Re gained 1.78% and 1.15%, respectively. Zurich Insurance Group, ABB, Swiss Life Holding and Schindler Ps posted notable gains.<\/p>\n<p>On the economic front, the State Secretariat for Economic Affairs (SECO) said that the Swiss <span class=\"landLinks\">economy<\/span> is set to undergo a significantly below-average growth this year as low capacity utilization in industrial output and high financing costs are set to damp investments.<\/p>\n<p>Although the economic growth outlook for 2024 was raised to 1.2% from 1.1%, this would mean that the Swiss economy is growing at a significantly below-average rate, the expert group of the SECO said.<\/p>\n<p>With the gradual global economic recovery, growth is expected to normalize to 1.7% in 2025, the agency added.<\/p>\n<p>The unemployment rate is expected to rise to 2.4% in 2024 and 2.6% in 2025. Both figures were revised up by one percentage point.<\/p>\n<p>Further, inflation is seen easing to 1.4% in 2024, which was slightly below the previous forecast of 1.5%. The projection for next year was retained at 1.1%. <\/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 Lower Again<\/a><br \/>\n<br \/>2024-06-17 17:03:21<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Switzerland market briefly advanced to positive territory after a weak start Monday morning, but retreated swiftly and spent the rest of the day&#8217;s session in the red as investors&#8230;<\/p>\n","protected":false},"author":2,"featured_media":48262,"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-48261","post","type-post","status-publish","format-standard","has-post-thumbnail","category-euro-markets"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/48261","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=48261"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/48261\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/48262"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=48261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=48261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=48261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}