Swiss Stocks Close Lower as SMI Slips 0.71% on Partners Group Selloff

The Swiss stock market closed moderately lower Friday, with the benchmark SMI falling 79.59 points, or 0.71%, to 11,123.07 after trading flat through mid-afternoon. Partners Group tumbled more than 4% to lead decliners. Lonza Group, Geberit, Richemont and Givaudan each fell 2.6% to 3.4%, while UBS Group, SGS, ABB, Logitech and Nestle slipped 1.1% to 1.8%. Credit Suisse lost 0.6% after reports its executives are discussing cutting thousands of jobs globally. Among gainers, Swisscom rose more than 2%, and Novartis, Swiss Life Holding and Zurich Insurance Group added 0.6% to 0.85%. In the Mid Price Index, Zur Rose dropped 6.75%, Bachem Holding shed about 5.1%, and Tecan Group and Straumann Holding each lost nearly 4%. BB Biotech and Temenos Group both gained nearly 2.5%. Separately, Swiss National Bank data showed foreign exchange reserves fell to CHF 849,403 million in July from CHF 849,798 million in June 2022.