The Switzerland stock market ended on a weak note on Monday after spending the entire duration of the day’s session in negative territory, as investors stayed cautious amid a lack of positive triggers.
Worries about a surge in coronavirus cases in several countries and uncertainty about the pace of economic recovery weighed on sentiment.
The benchmark SMI ended down 81.20 points or 0.67% at 12,049.63, after moving in a narrow band of 12,027.47 and 12,099.18.
The Swiss market recorded a fresh high on Friday amid optimism about strong corporate earnings and economic growth. The SMI ended with a gain of 153.83 points or 1.28% at 12,130.83, after hitting a new high at 12,142.60.
Lonza Group shares ended lower by 2.8% and Alcon ended nearly 2% down. Geberit, Sika, Givaudan, Novartis and Nestle lost 1.1 to 1.45%, while SGS and Roche Holding shed about 1% and 0.8%, respectively.
Credit Suisse climbed 1.8% after the banking giant said it reached an out-of-court settlement with its former wealth-management executive over allegations of spying.
UBS Group gained about 1.65%. Richemont, Swatch Group and Swiss Life Holding gained 0.75% to 1%, while Swiss Re, Zurich Insurance Group and Holcim gained 0.5 to 0.6%.
ABB ended slightly up after reports it is in advanced talks to sell its mechanical power transmission business to RBC Bearings Inc.
Among the stocks in the Swiss Mid Price Index, Schindler Ps and Schindler Holding ended lower by 3.6% and 3.1%, respectively. Straumann Holding, Sonova and SIG Combibloc lost 1.1 to 1.4%, while Julius Baer ended nearly 1% down.
Dufry gained about 3.75%. Temenos Group climbed 2.8%, while Tecan Group, Cembra Money Bank, BB Biotech, PSP Swiss Property, Adecco and Lindt & Spruengli gained 1 to 1.3%.
Swiss Market Ends Weak
2021-07-26 18:20:30
