The Switzerland stock market, which spent just a few minutes in positive territory on Wednesday, ended the session notably lower, as selling gathered momentum in the final hour.
The benchmark SMI ended down 74.05 points or 0.67% at 11,047.37, the day’s low.
Credit Suisse ended nearly 5% down, extending losses to a third straight day, on worries about the lender’s losses linked to the downfall of Archegos Capital.
Swatch Group shed about 2.2%. Richemont, Swiss Re, Zurich Insurance Group, SGS, Novartis, Swiss Life Holding and Partners Group lost 1 to 2%.
Roche gained about 0.6% after the company announced the launch of Elecsys EBV panel in countries accepting the CE Mark and said it plans to file for approval with the FDA in the future.
Givaudan and Sika also ended modestly higher.
In the midcap section, Galenica Sante declined 2.4%. Helvetia, Baloise Holding, Lindt & Spruengli, Adecco, Julius Baer and Clariant ended lower by 1.4 to 1.75%.
Tecan Group moved up more than 4%. SIG Combibloc, Logitech, Straumann Holding, Dufry and BB Biotech gained 2 to 2.8%, while AMS climbed 1.7%.
Swiss Market Ends Notably Lower; Credit Suisse Tumbles Again
2021-03-31 18:23:37
