The SMI closed lower today, reflecting a cautious sentiment in the market.

UBS reported gains, while Wall Street showed little movement amid ongoing economic concerns.

Analysts noted that the recent warning regarding a lower outlook for 2024 was anticipated, as market speculation had already indicated that the previous forecasts were overly optimistic. One analyst expressed surprise at the significant turnover reduction of approximately ten percent, highlighting that while the medium-term outlook remains unchanged, it is unlikely to have a meaningful impact. The market's reaction underscores the challenges ahead as investors digest the implications of these revised forecasts.