The Switzerland stock market ended modestly lower on Wednesday amid uncertainty about the pace of economic recovery due to a slowdown in vaccination following suspension of the use of AstraZeneca’s vaccine in several European countries.
Investors were also reluctant to make significant moves as they awaited the outcome of the Federal Reserve’s two-day monetary policy meeting.
The benchmark SMI, which stayed in negative territory almost right through the day’s session, ended with a loss of 21.99 points or 0.2% at 10,922.49. The index touched a low of 10,881.50 in the session.
Lonza Group and Partners Group lost 1.7% and 1.6%, respectively. LafargeHolcim, Swiss Life Holding, Swiss Re, Novartis and Roche Holding ended lower by 0.4 to 0.85%.
UBS Group shares climbed 1.6% and Credit Suisse gained nearly 1%. SGS, Swisscom and Nestle ended with modest gains.
In the Mid Price index, Tecan Group, AMS and Logitech ended lower by 2.3 to 2.7%, while Sonova slid 1.25%. Barry Callebaut, Temenos Group and Georg Fischer declined nearly 1%.
On the other hand, Cembra Money Bank gained nearly 1.5% and Kuehne & Nagel gained 1.35%. OC Oerlikon Corp, Helvetia, VAT Group and Galenica Sante posted modest gains.
Market Analysis
Swiss Market Closes Modestly Lower After Lackluster Session
2021-03-17 18:05:00