BRUSSELS (dpa-AFX) - After a flat start and a subsequent modest uptick, the Switzerland stock market retreated and stayed weak till the end of the session on Monday, as investors stayed reluctant to build up positions amid a lack of positive catalysts.
The benchmark SMI ended down 3.96 points, or 0.04%, at 10,305.27 after moving between 10,275.96 and 10,335.78.
On Friday, the index ended down 17.55 points, or 0.17%, at 10,309.23.
Richemont declined 2.2% on profit taking after recent strong gains. Swatch Group shares shed about 1.25% and Sika declined 1.1%.
Givaudan declined by about 0.5%. The company said it is buying U.S. flavour and fragrance maker Ungerer & Company, as it presses ahead with its growth strategy.
Novartis ended 0.71% up after the company's generics division Sandoz Inc. said that it has entered into a binding agreement for the planned acquisition of the Japanese business of Aspen Global Inc. for an initial cash consideration of 300 million euros.
In the midcap section, Vifor Pharma and Ems Chemie Holding declined 1.66% and 1.43%, respectively. Schindler Holding and Dorma Kaba Holding both ended lower by about 0.9%.
Clariant ended lower by 0.29%. According to reports, the company wants raise about $2.5 billion by selling its masterbatches and pigments assets.
On the other hand, Partners Group and Barry Callebaut gained 1.6% and 1.45%, respectively. BB Biotech advanced 1%, while Temenos Group gained nearly 1%. OC Oerlikon Group, Baloise Holding and Sonova also closed on a firm note.
Markets across Europe ended mixed on Monday. Trading was lackluster in most of the markets in the region due to concerns about the unrest in Hong Kong, global slowdown fears and uncertainty about U.S.-China trade negotiations.
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