The Switzerland stock market ended on a weak note on Wednesday, extending recent losses, amid worries about a likely slowdown in global economic recovery due to the spread of the Delta variant of coronvirus.
The benchmark SMI, which stayed in negative territory right through the session, ended with a loss of 129.24 points or 1.05% at 12,215.14, nearly 60 points off the day’s low of 12,155.63.
Partners Group shares shed about 2.8%. Holcim ended lower by 2.3%, while Novartis and Sika lost 1.76% and 1.55%, respectively.
ABB, Credit Suisse, Roche Holding, Geberit, Swiss Life Holding, Alcon, Swatch Group, UBS Group, SGS and Nestle lost 0.7 to 1.2%.
Among the stocks in the Mid Price Index, AMS declined 4.7%, Swiss Prime Site shed 3.7%, VAT Group ended 3.3% down and Logitech lost about 3.1%.
SIG Combibloc, Temenos Group, Schindler Ps, Cembra Money Bank, Schindler Holding and Georg Fischer also declined sharply, while Recruitment company Adecco Group AG declined 0.7%, a day after it announced the acquisition of QAPA.
Flughafen Zurich moved up by about 2%.
In coronavirus news, Switzerland is being hit by a fourth wave of the infection, according to reports. Virginie Masserey, a top official at the Federal Office of Public Health, said on Tuesday that the virus situation in Switzerland remains tense.
The number of new cases has stagnated at a high level, and Switzerland now has the highest incidence rate in Europe, after Britain, with 402 new infections per 100,000 residents over the past 14 days.
Swiss Market Ends On Weak Note For 2nd Straight Day
2021-09-08 17:35:33
