Swiss stock exchange closes lower on Friday – Sandoz the only gainer in the SMI
Published
The Swiss stock market ended the trading week on Friday with losses. Nevertheless, the decline was comparatively moderate when compared with the sell-off on Wall Street. Many investors in New York sold their shares, which pushed prices there significantly downward.
In the Swiss Market Index (SMI), Switzerland's most important stock market index, there was only one gainer on that day: Sandoz. The pharmaceutical company was able to increase its share price over the course of the trading day. Most of the other companies in the index, however, had to accept price losses.
The shares of reinsurer Swiss Re lost the most. The company's stock recorded the largest declines among the SMI stocks. Investors were reacting to the generally difficult market sentiment on Friday.
Overall, the trading day shows that the Swiss stock exchange could not fully decouple from developments in the USA, but was less strongly affected. How prices develop in the coming days remains to be seen.
Sources: Cash
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