BRUSSELS (dpa-AFX) - The Switzerland stock market ended weak on Monday, with investors largely staying cautious after the sharp uptick last week.
The market spent the entire session in negative territory. The benchmark SMI ended down 37.60 points or 0.37% at 10,152.77. It touched a low of 10,082.05 and a high of 10.188.30 in the session.
On Friday, the SMI ended up 114.69 points or 1.14% at 10,190.37, the day's high.
According to a report from the European Central Bank, an asset quality review and a stress test on subsidiaries of UBS and Bank of America revealed no capital shortfall. The review will help clear a hurdle for the banks to relocate activities to Europe from Britain. UBS Group shares ended modestly higher today.
Lonza Group slid about 3%, Givaudan lost 2.8% and Adecco declined 2.5%. Alcon ended nearly 2% down. Roche Holding, Novartis and SGS also closed weak.
Sika ended lower by about 0.75%. The company has acquired an Egyptian roofing and waterproofing company, whose annual sales value is estimated to be around 26 million Swiss francs.
Credit Suisse shares moved up nearly 2.5%. Nestle, Swiss Re and Swisscom gained 0.8 to 1%.
In the midcap section, VAT Group ended lower by about 5.1%. AMS declined 4.4%, while Swiss Prime Site and PSP Swiss Property both ended lower by about 2.5%.
Dorma Kaba Holding, BB Biotech, Barry Callebaut and EMS Chemie Holding also ended notably lower.
Flughafen Zurich and Straumann Holding moved up 1.3% and 1%, respectively. Bucher Industries and Helvetia closed with modest gains.
Other major European markets too ended weak today as investors largely refrained from making significant moves, reacting to news about widespread protests across the world following the killing of unarmed black man George Floyd in police custody late last month, and on news about quarantine measures for travelers entering the U.K.
Meanwhile, the ECB President Lagarde has urged the European Union to quickly pass the coronavirus stimulus package proposed by the European Commission to restore confidence and avoid a deeper recession.
The pan European Stoxx 600 declined 0.32%. The U.K.'s FTSE 100 slid 0.18%, Germany's DAX shed 0.22% and France's CAC 40 fell 0.43%.
Copyright RTT News/dpa-AFX