The Switzerland stock market ended weak on Friday, in line with the trend seen across Europe, as rising U.S. bond yields and concerns bout inflation and higher interest rates weighed on sentiment.
The benchmark SMI, which stayed in the red for a second straight session, ended the day with a loss of 142.30 points or 1.32% at 10,607.79, the lowest point of the session. The index still gained about 0.8% in the week.
The SMI, which gained 1.75% and 1.05%, respectively on Monday and Tuesday, lost about 0.4% and 0.2% in the next two session.
Among SMI components, only two stocks, Swisscom and Nestle (both edged up marginally), closed on the positive side today.
Partners Group closed lower by about 3.4%. Richemont, Lonza Group and Swiss Life Holding shed 2 to 2.2%. Roche Holding ended nearly 2% down, while Swatch Group, LafargeHolcim, Givaudan, Credit Suisse and Novartis lost 1.6 to 1.85%. Swiss Re ended nearly 1.5% down, while ABB shed 1.28%.
Among the stocks in the Mid Price Index, Dufry ended more than 4.5% down on profit taking after recent strong gains. Logitech, Tecan Group, BB Biotech, Georg Fischer, Kuehne & Nagel, Sonova, Straumann Holding and VAT Group lost 2 to 3.1%.
Vifor Pharma bucked the trend and gained about 2.7%. Clariant, Lindt & Spruengli and Adecco edged up marginally.
According to a report released by Swiss National Bank, foreign Exchange Reserves in Switzerland increased to CHF 914.19 billion in February from CHF 896.15 billion in January.
Market Analysis
Swiss Market Ends Lower For 3rd Straight Day
2021-03-05 18:57:58
