March 7, 2021

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Swiss Market Fails To Hold Early Gains, Ends Modestly Lower

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VIXC Market and Financial News

VIXC Market and Financial News Magazine.

After a firm start and a subsequent long spell in positive territory, the Switzerland stock market faltered past mid afternoon and eventually ended on a weak note on Thursday.

Worries about rising coronavirus cases and reports saying several places across the world are set to go back to the lockdown mode weighed on stocks during the final hour of the session.

The benchmark SMI ended lower by 32.35 points or 0.3% at 10,913.11, slightly off the session’s low of 10,908.71. The index touhed a high of 11,004.44 in early trades.

Roche Holding and Alcon both ended higher by a little over 1%. Swisscom, Zurich Insurance Group, Swiss Re, Richemont, Novartis, Nestle and UBS Group lost 0.4 to 0.8%, while Credit Suisse edged down marginally.

Partners Group, Givaudan and Sika ended lower by 1.6%. 1.45% and 1.25%, respectively.

In the Mid Price Index, AMS declined more than 3%. Flughafen Zurich slid 1.17%, Helvetia, Temenos Group, BB Biotech, Sonova, PSP Swiss Property and Galenica Sante lost 0.5 to 0.85%.

Logitech rallied 3.6%. Kuehne & Nagel and Lindt & Spruengli both gained about 2%. Dufry, Schindler Ps, Georg Fischer, Adecco and Schindler Holding gained 1.5 to 1.85%. Julius Baer, Ems Chemie Holding and SIG Combibloc also ended notably higher.

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2021-01-21 13:55:09

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