{"id":52871,"date":"2024-11-15T18:21:44","date_gmt":"2024-11-15T18:21:44","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/11\/15\/swiss-market-ends-lower-on-growth-concerns\/"},"modified":"2024-11-15T18:21:44","modified_gmt":"2024-11-15T18:21:44","slug":"swiss-market-ends-lower-on-growth-concerns","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/11\/15\/swiss-market-ends-lower-on-growth-concerns\/","title":{"rendered":"Swiss Market Ends Lower On Growth Concerns"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> Swiss stocks tumbled on Friday, weighed down data showing a slowdown in growth, and uncertainty about Fed interest rate cuts following hawkish comments by the central bank chair Jerome Powell.<\/p>\n<p>The benchmark SMI closed down 156.61 points or 1.33% at 11,627.04.<\/p>\n<p>Data from the State Secretariat for Economic Affairs, or SECO, said gross domestic product adjusted for sports events increased 0.2% in the third quarter, according to flash estimate. In the second quarter, the Swiss GDP adjusted for sporting events grew 0.5%.<\/p>\n<p>The country&#8217;s producer and import price index decreased 0.3% in October after a 0.1% decline in September, Swiss Federal Statistical Office data showed. On a yearly basis, producer and import prices fell 1.8%. <\/p>\n<p>Lonza Group closed down 8.3%. VAT Group ended nearly 4% down. Straumann Holding, Roche Holding and Lindt &amp; Spruengli lost 2.29%, 2.22%, and 2.08%, respectively.<\/p>\n<p>Givaudan, Alcon, Nestle, SGS, Logitech International, Novartis, Partners Group and Sika lost 1 to 2%. Kuehne + Nagel, Sonova and Schindler Ps declined nearly 1%.<\/p>\n<p>Holcim, ABB, Swisscom, UBS Group and Richemont also ended weak.<\/p>\n<p>Swatch Group climbed about 2.25%. Sandoz Group gained 1%. The company announced that it has secured marketing authorization from the European Commission for Afqlir, its biosimilar to Eylea, indicated for treating various retinal diseases. <\/p>\n<p>Swiss Re gained nearly 1%. Adecco and Zurich Insurance Group also closed on firm note. <\/p>\n<\/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 On Growth Concerns<\/a><br \/>\n<br \/>2024-11-15 18:21:44<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Swiss stocks tumbled on Friday, weighed down data showing a slowdown in growth, and uncertainty about Fed interest rate cuts following hawkish comments by the central bank chair Jerome Powell&#8230;.<\/p>\n","protected":false},"author":2,"featured_media":52872,"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-52871","post","type-post","status-publish","format-standard","has-post-thumbnail","category-euro-markets"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/52871","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=52871"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/52871\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/52872"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=52871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=52871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=52871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}