The Switzerland stock market ended notably lower on Tuesday, extending losses from previous session, after staying weak right through the day, in line with the trend seen across the European region.
The benchmark SMI, which dropped to a low of 19,932.85, ended the session with a loss of 134.35 points or 1.21% at 10,989.32.
On Monday, the index ended with a loss of 49.90 points or 0.45%.
UBS Group shares declined 3.2%. LafargeHolcim, Swiss Life Holding, Sika, Geberit, Swiss Re, Givaudan, Zurich Insurance Group and Richemont ended lower by 1.7 to 2.4%.
Lonza Group, Swatch Group, Credit Suisse, ABB and Roche Holding also ended notably lower. Novartis and Nesle too closed weak, while Swisscom edged up marginally.
Among the stocks in the Mid Price Index, Dufry and Georg Fischer ended lower by 5.7% and 5.2%, respectively. Logitech, Adecco, Sonova, Straumann Holding, Julius Baer, Helvetia and Ems Chemie Holding lost 2 to 3.1%.
In Switzerland, the numer of new positive Covid cases continues to go down, according to the Swiss government. The national 14-day incidence stood at 241 new cases per 100,000 residents on May 11.
Vaccination roll-out continues to accelerate with over 62,000 jabs reported every day. This is about 21% more compared with the previous week.
Swiss Market Ends Weak For 2nd Straight Day
2021-05-11 18:28:53
