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swiss stock exchange declines as investors react to us interest rate concerns
The Swiss stock exchange closed lower, with the SMI down 0.70% at 8206.20 points, following concerns over potential U.S. interest rate hikes. Major banks like UBS and Credit Suisse faced significant losses, while defensive stocks like Nestlé and Novartis attempted to mitigate the downturn. Market experts anticipate a turbulent period ahead after recent volatility in U.S. markets.
Swiss stock exchange declines as banking and cyclical stocks face pressure
The Swiss stock exchange experienced a downward trend, with the SMI index closing at 8056.71 points, down 0.35%. Banking stocks faced pressure due to uncertainties surrounding Brexit and low interest rates, while defensive heavyweights like Novartis and Nestlé showed slight gains. In the broader market, Sulzer surged 11.47% following its acquisition of Geka, while EFG International struggled, dropping 6.30%.
Swiss stock exchange declines as investors take profits amid mixed earnings reports
The Swiss stock exchange closed sharply lower, with the SMI down 1.54% at 8095.07 points, as investors took profits after recent gains. Credit Suisse saw a significant drop of 5.02% despite reporting a profit for the second quarter, while other major banks and insurance companies also faced declines. In contrast, Logitech surged 13.62% following a strong start to its fiscal year.
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