BRUSSELS (dpa-AFX) - The Switzerland stock market ended modestly lower on Wednesday, extending its losing streak to a fourth day, despite staying in positive territory till mid afternoon.
The benchmark SMI ended down 19.90 points, or 0.21%, at 9,533.98, nearly 70 points off the day's low of 9,464.41. The index touched a high of 9,651.69 in the session.
Novartis declined nearly 3% after the U.S. Food and Drug Administration said that some data from early testing of Novartis' more than $2 million gene therapy Zolgensma was manipulated. However, the regulator said that it believes the treatment should remain on the market.
UBS Group shares shed 1.7%. According to a report in Swiss newspaper Tages-Anzeiger, Italy's tax authorities have requested their counterparts in Switzerland for information about possible tax evasion by Italian UBS clients.
Credit Suisse declined by about 1%, while ABB ended lower by 0.7%.
Nestle, Givaudan and Lonza Group gained 1 to 1.4%. SGS ended nearly 1%. Adecco, Swiss Re, Alcon, Swisscom, LafargeHolcim and Sika closed modestly higher.
In the midcap space, OC Oerlikon Corp declined 1.7%. Julius Baer, GAM Holding and Georg Fischer lost 1 to 1.3%.
On the other hand, Swiss Prime Site, Barry Callebaut, Sunrise Communications, Lindt & Sp, BB Biotech, Ems Chemie Holding, PSP Swiss Property and Partners Group gained 0.7 to 1.1%.
Among the other major markets in Europe, Germany's DAX advanced 0.71%, France's CAC 40 moved up 0.61% and the U.K.'s FTSE 100 gained 0.38%. The pan European Stoxx 600 ended up 0.24%.
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