Swiss Market Ends On Weak Note

(RTTNews) - The Switzerland stock market closed notably lower on Friday, in line with markets across Europe as worries about inflation and uncertainty about central banks' monetary policy moves rendered the mood cautious.

The benchmark SMI ended with a loss of 160.59 points or 1.15% at 13,786.72, the day's low.

Swisscom ended 3.4% down, and Amrize shed 2.5%. Nestle ended 2.63% down. Nestle is reportedly reviewing its options after Russia placed the company's local operations under temporary state administration. Nestle operates six factories in Russia.

Zurich Insurance, Helvetia Baloise Holding, Julius Baer, Richemont and Logitech International lost 1.4%-1.9%.

Partners Group, Sonova, Swiss Life Holding, Sika, Roche, Schindler Ps, Geberit and Holcim shed 1%-1.3%.

Novartis ended modestly lower. The drugmaker has reportedly halted a Phase 2 ALS trial for VHB937 after it missed primary and secondary endpoints; company will still assess VHB937 for potential Alzheimer's use.

Lindt & Spruengli, Givaudan, Swiss Re and Kuehne + Nagel also ended weak.

VAT Group climbed nearly 3%. Sandoz Group moved up 1.1%. ABB and Alcon gained 0.63% and 0.41%, respectively.