BRUSSELS (dpa-AFX) - After spending less than an hour in positive territory Friday morning, the Switzerland stock market faltered and stayed in the red till the end of the session, as investors largely stayed away on the sidelines, looking for direction.
The Swiss National Bank is scheduled to announce its monetary policy on Thursday, 19 September 2019. After the ECB came out with monetary easing yesterday, the Swiss central bank is somewhat under pressure to relax its already light policy.
The benchmark SMI ended down 46.75 points, or 0.46%, at 10,047.34, after scaling a high of 10,131.13 and a low of 10,033.33 in the session.
On Thursday, the SMI hit a new record, rising to 10,140.93, but eventually ended the session at 10,094.09, with a loss of 4.50 points, or 0.04%.
Nestle declined by about 3.4%. According to reports, the company has set up a research institute to develop more environmentally friendly packaging for its products and reduce plastic waste.
Novartis ended lower by 1.5% and Givaudan declined 1.4%. SGC and Lonza Group shed about 1% and 0.9%, respectively.
UBS Group and Credit Suisse closed stronger by 2.3% and 2.1%, respectively.
Roche Holding ended up 1.6%. LafargeHolcim, Adecco, Sika, Richemont and ABB gained 0.7 to 1%.
In the Mid Price Index, Dorma Kaba Holding declined 2.85%. Flughagfen Zurich, Straumann Holding, Barry Callebaut and Sonova shed 1.2 to 1.7%.
On the other hand, GAM Holding moved up 6.35%. AMS ended with a gain of 3.7% and OC Oerlikon Corp advanced by about 3%.
Georg Fischer, Julius Baer, VAT Group, Clariant and Kuehne & Nagel also ended notably higher.
Copyright RTT News/dpa-AFX
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