SIX-Handel SMI schwächelt letztendlich

SIX Swiss Exchange: SMI Index Loses Nearly 1%

The Swiss Market Index (SMI) closed Thursday's trading session on the SIX Swiss Exchange with a decline of 0.89%.

The index fell by 76.51 points to close at 8,576.71 points, marking its second consecutive day of losses.

Contributing Factors and Market Performance

The decline in the SMI was attributed to a combination of factors, including geopolitical tensions, economic uncertainty, and profit-taking by investors.

The ongoing conflict in Ukraine, rising inflation, and concerns over slowing global economic growth weighed on investor sentiment.

Among the major constituents of the SMI, shares of banking giant UBS Group AG fell by 2.2%, while healthcare company Roche Holding AG declined by 1.3%. Nestlé SA, the world's largest food company, also experienced a drop of 0.8%.

Sector Performance and Market Outlook

The healthcare sector led the decline, with Roche Holding AG's losses contributing significantly.

The financial sector also faced pressure, with UBS Group AG and Credit Suisse Group AG both closing in the red.

Analysts expect market volatility to continue in the near term as investors remain cautious amid geopolitical and economic uncertainties.