BRUSSELS (dpa-AFX) - The Switzerland market ended marginally down on Thursday, in line with markets across Europe, as surging oil prices amidst seemingly elusive deal between Iran and the U.S. fueled concerns about interest rates and economic growth.
Investors also digested the Swiss National Bank's decision to hold interest rate at zero percent. Policymakers observed that the monetary policy is appropriate to keep inflation within the range consistent with price stability and supports economic development.
The benchmark SMI, which spent very little time in positive territory today, ended the session at 13,905.82, down 15.90 points or 0.11% from previous close.
Logitech International tumbled 6.1%. Partners Group drifted down 5.3%. VAT Group, ABB and Holcim lost 2%-2.5%.
Sika, Julius Baer, Amrize, Schindler Ps, Kuehne + Nagel, Alcon and Helvetia Baloise Holding ended down by 1.3%-1.6%.
Sonova, Sandoz Group, Straumann Holding, Zurich Insurance and UBS Group also closed weak.
Swiss Re and Lonza Group climbed 1.65% and 1.5%, respectively. Novartis, Nestle and Galderma Group ended higher by 1.16%, 1.1% and 0.85%, respectively.
The SNB retained its key interest rate at zero percent as medium-term inflationary pressure increased only slightly since June. The SNB had lowered its key rate by 175 basis points since March 2024. The bank exited its negative rate in 2022 after holding it steady for over seven years.
At the quarterly meeting, the SNB said it is willing to be active in the foreign exchange market as necessary to ensure appropriate monetary conditions.
The bank forecast inflation to rise somewhat in the fourth quarter, before easing again over the course of 2027 with the expected fall in energy inflation from the current elevated level. The bank expects inflation to average 0.7% this year, which was slightly up from 0.6% estimated in June.
Likewise, the outlook for 2027 was lifted to 0.8% from 0.6%. Inflation for 2028 was also estimated at 0.8% compared to the prior forecast of 0.7%.
The SNB projected moderate economic growth for the coming quarters. Growth is seen between 1.5% and 2% this year and around 1.5% in 2027.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
