Markets

Swiss Market Ends Moderately Lower

(RTTNews) - The Switzerland stock market ended moderately lower on Thursday as investors largely stayed cautious and looked to cut down positions a bit amid continued uncertainty about economic recovery due to the relentless surge in coronavirus cases across the world.

Some disappointing economic data from across the world too weighed on sentiment.

The benchmark SMI ended with a loss of 55.66 points or 0.53% at 10,383.38. The index touched a high of 10,439.04 around mid morning and later fell to 10,267.64.

Swiss Re declined as much as 3.6% and Roche Holding shares closed lower by 3.1%. UBS Group shed 2.7% and Credit Suisse lost 2%, while Swiss Life Holding ended down 1.6%. Swatch Group and Novartis also ended notably lower

Sika surged up 2.3%. Nestle gained 1.7% and SGS closed with a gain of 1.1%, while ABB and Alcon both ended higher by about 0.75%.

In th midcap section, AMS surged up 2.65% and Georg Fischer gained nearly 2.5%. Schindler Ps, Lindt & Spruengli, Schindler Holding and Barry Callebaut gained 1.1 to 1.8%, while Ems Chemie Holding ended nearly 1%.

On the other hand, Julius Baer tumbled 2.8%, while Flughafen Zurich, PSP Swiss Property and Helvetia lost 2.2 to 2.4%.

Swiss Prime Site, Logitech and Baloise Holding declined 1.9%, 1.7% and 1.6%, respectively.

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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