Swiss Market Retreats After Positive Start, Ends On Weak Note

After opening higher and seeing a brief spell in positive territory, the Switzerland market turned weak on Monday and eventually ended the day’s session on a weak note.

Due to a lack of positive triggers, the mood remained cautious right through the day’s session and investors were reluctant to make significant moves.

The benchmark SMI, which advanced to 11,264.72 in early trades, ended with a marginal loss of 18.89 points or 0.17% at 11,207.51.

Partners Group ended lower by about 1.6%. Sonova, Kuhne & Nagel, Roche Holdings, ABB, Holcim, Geberit and Nestle lost 0.5 to 1%.

Swiss Life Holding climbed more than 1%. Swiss Re, Novartis, Lonza Group, Swisscom and Zurich Insurance Company gained 0.5 to 0.7%.

Among the stocks in the Mid Price Index, Adecco, Meyer Burger Tech and BKW lost 2.1 to 2.25%.

VAT Group, Georg Fischer, Belimo Holding, Straumann Holding and Schindler Ps declined 1.3 to 1.7%.

Sandoz climbed about 1.1%. Baloise Holding, Helvetia, ams OSRAM AG, SIG Combibloc and Flughafen Zurich ended higher by 0.4 to 0.8%.

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