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The Switzerland market closed weak on Friday, tracking weak global cues after U.S. President Donald Trump’s latest tariff moves raised fears of a global trade war. <\/p>\n
The benchmark SMI ended down 194.52 points or 1.6% at 11,937.42, slightly off the day’s low of 11,922.85.<\/p>\n
Straumann Holding ended down 3.38%. Novartis and Adecco, both closed down 3%. Novartis fell as it failed to block India-based MSN Pharmaceuticals from launching a generic version of its blockbuster heart-failure drug Entresto<\/p>\n
Sika and Roche Holding ended lower by 2.46% and 2.36%, respectively.<\/p>\n
Sonova, Alcon, Richemont, Givaudan, Partners Group, VAT Group and SIG Group finished lower by 1.5 to 2%. Logitech International, UBS Group, Geberit and Nestle also ended notably lower.<\/p>\n
Lindt & Spruengli gained nearly 1%. Swiss Life Holding and Julius Baer posted modest gains.<\/p>\n
In economic news, Swiss consumers remained less pessimistic in June as the confidence index rose further from May, monthly survey results from the State Secretariat for Economic Affairs, or SECO, showed.<\/p>\n
The consumer sentiment index rose to -32.0 in June from -36.5 in the previous month. Similarly, the index improved from the previous year’s reading of -36.0.<\/p>\n
Among the four components, past financial situation, financial outlook, and moment to make major purchases were above their previous year’s levels, while the sub-index for economic outlook decreased. <\/p>\n<\/p>\n
Market Analysis<\/p>\n<\/div>\n