Swiss Market Ends Lower Again On Virus Jitters

(RTTNews) - The Switzerland stock market ended notably lower on Tuesday, tracking weakness across other markets in the region amid rising worries about growth due to resurgence in coronavirus cases.

The benchmark SMI ended down 0.98% at 9,887.49, after hitting a low of 9,861.84. The index edged up to 10,000.56 in opening trades.

Swiss Life Holding, Credit Suisse, Swiss Re and LafargeHolcim slid 2 to 3%. Novartis fell 2.85% after it posted lower third-quarter net profit, hit by legal provisions.

UBS Group and Alcon both ended lower by about 1.6%. Richemont, Zurich Insurance Group and Swatch Group also closed notably lower.

Givaudan ended nearly 1% up, while Lonza Group, Roche Holding and Sika edged up marginally.

In the midcap section, Helvetia, Baloise Holding, AMS, Adecco and Vifor Pharma lost 2.2 to 3.2%, while OC Oerlikon Corp ended nearly 2% down.

Julius Baer and Dufry ended lower by 1.9% and 1.7%, respectively. Swiss Prime Site and Lindt & Sp Ps also closed notably lower.

SIG Combibloc moved up 2.7% and Tecan Group climbed 2.3%. VAT Group and Logitech both closed higher by 1.25%.

In coronavirus updates, a report from Swiss health authorities showed coronavirus infections rose by almost 6,000 on Tuesday. Total confirmed cases in the country rose to over 127,000. The government is reportedly considering tightening restrictions meant to slow the spread of the infection.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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