The Switzerland stock market ended weak on Wednesday, after languishing in negative territory right through the session, as investors remained reluctant to make significant moves.
The benchmark SMI once again moved in a very narrow range. It ended the day with a loss of 27.70 points or 0.23% at 12,043.35.
Lonza Group, Swisscom, Alcon, Partners Group, Givaudan, Credit Suisse and Swiss Re declined 0.7 to 1.1%. Novartis and Roche Holding ended lower by 0.25% and 0.2%, respectively.
Swatch Group shares climbed 2.8%. Richemont moved up nearly 2%, while Holcim gained 0.56%. UBS Group edged up marginally.
Among the stocks in the Swiss Mid Price Index, PSP Swiss Property ended nearly 3% down. Swiss Prime Site shed 2.1% and Flughafen Zurich drifted down 1.6%.
On the other hand, Georg Fischer gained 1.8% and Straumann Holding climbed 1.2%. VAT Group moved up 0.85%.
The Swiss government’s Covid-19 advisory panel has reportedly warned about the recent increase in new infections due to the more contagious Delta variant. The panel is reported to have said that the dominance of the Delta variant would likely result in an increasing number of hospital admissions in the next few weeks.
Market Analysis
Swiss Market Closes Weak
2021-07-14 18:37:19
