(Updating with full report)
ZURICH (AFX) - Share prices closed near the day's lows on profit-taking in the absence of major corporate news, with gains on Wall Street failing to inspire, dealers said.
At the close, the SMI was down 26.90 points at 8,051.62, and the SPI was off 16.23 at 6,190.11.
The euro was down slightly against the Swiss franc at 1.5802 sfr, while the dollar decreased to 1.2891 sfr.
Having broken through the resistance level of 8,080 points yesterday, investors were taking profits on the SMI today, with most blue chips in negative territory.
Tamer-than-expected Swiss inflation data for March calmed concerns about the pace of interest rate hikes but had little effect on local equities.
Novartis was in focus, off 0.45 sfr at 72.45 sfr, little moved by news that the drugmaker secured its takeover of Chiron Corp by sweetening its bid for the second time and changing the 5.3 bln usd deal's voting structure.
Novartis is still not seen as overpaying, and there is widespread relief that a deal has been secured at last, dealers said.
Roche was down 1.60 at 192 sfr.
Top gainer was Swiss Re, up 1 at 93.40, recovering from recent underperformance, followed by Synthes, up 1.80 or 1.2 pct at 146.40 sfr.
Adecco was up 0.10 at 74 sfr, helped by news that a US class action against the company has been dismissed.
UBS was down 0.20 at 144.10, and Credit Suisse was down 0.10 at 73.70.
Nestle was down 1.25 at 385.50 sfr. afx.zurich@afxnews.com at/cml COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
© 2006 AFX News
