Swiss Market Ends Weak

(RTTNews) - The Switzerland stock market ended modestly lower on Thursday as worries about growth due to rising coronavirus cases in several parts of the U.S., and few other countries, and U.S.-China tensions rendered the mood bearish.

The benchmark SMI ended down 26.58 points or 0.25% at 10,433.43, which incidentally was the session's high. The index touched a low of 10,356.70 after opening at 10,402.24.

Richemont shares tumbled 4.6% after the company's first-quarter total sales fell 47%, hurt by strong impact from Covid-19 pandemic.

Swatch Group shed about 3.7% and Alcon lost nearly 2.5%. Adecco and Novartis ended lower by 0.9% and 0.75%, respectively, while Nestle and Credit Suisse closed modestly lower.

Geberit moved up by about 3%. Sika, Swiss Re, Swisscom, LafargeHolcim and SGS gained 0.5 to 1%.

In the midcap section, Temenos Group declined 6.5%. Vifor Pharma ended down 3.3%, while AMS and Dufry lost 2.2% and 2%, respectively. Sonova ended lower by 1.3% and OC Oerlikon Corp shed about 1%.

Flughafen Zurich rallied almost 4%, while Logitech and Dorma Kaba Holding gained 1.6% and 1.4%, respectively.

The other major markets in Europe too ended weak today. The U.K.'s FTSE 100 shed 0.67%, Germany's DAX lost 0.43% and France's CAC 40 slid 0.46%. The pan European Stoxx 600 shed 0.47%.

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

Tags

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.