The Switzerland stock market ended notably lower on Tuesday, in line with the trend across Europe, as worries about surging coronavirus cases in Asia dented optimism about a quick economic recovery.
The benchmark SMI ended with a loss of 130.86 points or 1.17% at 11,078.98, slightly off the day’s high of 11,065.87.
Swiss Re plunged more than 7%. Credit Suisse, Richemont, UBS Group, ABB, LafargeHolcim and Swiss Life Holding lost 2 to 3.4%. Swatch Group shed 1.7%, while Partners Group, Zurich Insurance Group and Lonza Group ended lower by 1 to 1.25%.
Sika bucked the trend and ended 0.8% up. The company announced that it recorded first-quarter sales of CHF 1.999 billion, representing an increase of 12.6% in local currencies from last year.
Among the stocks in the Mid Price Index, AMS plunged nearly 13%. Dufry ended 6.5% down and Flughafen Zurich lost about 3.45%. Julius Baer ended nearly 3% down.
Tecan Group, OC Oerlikon Corp, SIG Combibloc, Clariant, Cembra Money Bank and Baloise Holding also declined sharply.
Swiss Market Ends Notably Lower
2021-04-20 18:27:24
