After a slightly higher start and a subsequent weak spell till about an hour past noon on Thursday, the Switzerland stock market briefly found some support but tumbled again past mid afternoon and ended on a negative note.
A lack of positive lead, and worries about the impact of surging coronavirus cases on economic rebound rendered the mood a bit bearish.
The benchmark SMI, which dropped to a lowof 11,927.62, ended the day with a loss of 44.58 points or 0.37% at 11,977.00.
Roche Holding shares declined 3.6% after the company reported a drop in first-half profit.
Nestle ended 1.6% down, while Credit Suisse, Givaudan and Swatch Group shed 0.4 to 0.65%. UBS Group and Swisscom ended marginally down.
Partners Group shares climbed more than 2.5%. Lonza Group surged up 2.1%. Shares of technology and engineering firm ABB gained about 1.5% after the company doubled its full-year sales outlook and said it is considering a spin-off of its electric vehicle charging business.
Richemont, ABB, Alcon, Novartis, SGS and Geberit gained 1 to 1.6%, while Swiss Life Holding and Holcim ended higher by about 0.8% and 0.6%, respectively.
In the Swiss Mid Price Index, Cembra Money Bank shed about 2.5% and Kuehne & Nagel declined 2.2%, while AMS, Temenos Group and PSP Swiss Property ended lower by 1.48%, 1.25% and 1.23%, respectively.
On the other hand, VAT Group, Straumann Holding, SIG Combibloc, Georg Fischer and Sonova advanced 1.6 to 2.4%. Tecan Group shares gained about 1.05%.
Swiss Market Ends On Weak Note
2021-07-22 18:24:03
