Despite spending much of the day’s session in positive territory, the Switzerland stock market ended slightly lower on Monday due to some brisk selling at some key counters in the closing minutes.
Worries about growth due to rising coronavirus cases, likely delay in vaccine supplies, and tighter lockdown restrictions in many places across the U.S. and Europe rendered the mood a bit cautious.
The benchmark SMI ended down 5.11 points or 0.05% at 10,925.70. The index, which rose to 11,014.28 in the final hour, swiftly slipped into the red to 10,918.56.
Richemont shed about 3%. LafargeHolcim, Zurich Insurance Group, Swiss Life Holding, UBS Group, Swatch Group, Swiss Re and Credit Suisse lost 1.4 to 2.3%.
On the other hand, Givauldan gained 2.05%, Swisscom climbed 1.7%, Alcon gained nearly 1.5% and Lonza Group advanced 1.4%. Nestle, Roche Holding, Novartis and SGS ended with modest gains.
Among the stocks in the Mid Price Index, Dufry plunged more than 11%. AMS declined 5.7% and Clariant ended nearly 3% down. Helvetia, Adecco, Georg Fischer, Cembra Money Bank and Julius Baer lost 2 to 2.4%.
Flughafen Zurich, Temenos Group, Schindler Group, VAT Group and Baloise Holding also ended notably lower.
Market Analysis
Swiss Market Fails To Hold Gains, Ends Slightly Weak
2021-01-25 18:48:58
