The Switzerland stock market ended modestly lower on Monday with investors largely making cautious moves. The market’s weak close was due largely to a sell-off at Credit Suisse counter.
The benchmark SMI, which was in positive territory for just a few minutes at the start, ended the day with a loss of 27.21 points or 0.24% at 11,089.60. The index fell to a low of 11,058.69 around mid morning after having edged up to 11,132.00 at the start.
Credit Suisse shares plunged nearly 14% after the bank warned of a “highly significant” hit to results due to its exposure to a single, unnamed client.
UBS Group declined nearly 4% and ABB ended lower by almost 3%. Partners Group shed 1.7%, while Lonza Group shed 0.8%.
SGS, Nestle, Geberit, Zurich Insurance Group, Richemont, Novartis, Swisscom and Swiss Re gained 0.5 to 1.5%.
In the midcap section, BB Biotech shed more than 2%. Logitech, Temenos Group, Straumann Holding and OC Oerlikon Corp ended lower by 1 to 1.5%.
Schindler Ps and Schindler Holding bother ended lower by over 2%. Vifor Pharma gained nearly 1.5%. Helvetia, Lindt & Spruengli and Galenica Sante gained 0.8 to 0.9%.
Market Analysis
Swiss Market Ends Modestly Lower
2021-03-29 18:20:38
