BRUSSELS (dpa-AFX) - The Switzerland stock market ended on a weak note after a choppy session, as investors largely stayed cautious and refrained from making significant moves amid lingering worries about global growth and coronavirus infections.
Activity was mostly stock specific with corporate news providing some direction.
The benchmark SMI ended down 32.21 points or 0.33% at 9,796.37. The index, which dropped down to 9,723.89 in early trades, rallied to 9,913.90 by mid morning, but faltered in late afternoon trades to eventually settle on a weak note.
Alcon shares declined by about 1.7% and Novartis lost a little over 1%.
Givaudan, SGS and UBS Group closed lower by 0.5 to 0.7%. Credit Suisse declined marginally. Nestle shares shed about 0.7%. The company announced that it is looking to sell a part of its North American water business, including the Pure Life brand, as it aims to focus on better performing brands.
Richemont ended with a gain of about 1.5%. According to an announcement from the company, its human resources director Sophie Guieysse is leaving the company.
Adecco gained nearly 1%, while Swisscom and Zurich Insurance Group both ended higher by about 0.5%.
Among the stocks in the midcap section, Dorma Kaba Holding declined 2.2%. Georg Fischer, Vifor Pharma, Ems Chemie Holding and Barry Callebaut lost 1.2 to 1.4%.
AMS moved up 3.3%. Flughafen Zurich gained 3.2%. Dufry rallied 2.25% and Temenos Group notched up a gain of 1.8%.
Most of the markets across Europe closed higher today on bargain hunting. Among the major indices in Europe, the pan European Stoxx 600 moved up 0.28%. The U.K.'s FTSE 100 advanced 0.47% and France's CAC 40 climbed up 0.49%, while Germany's DAX eased 0.18%.
Copyright RTT News/dpa-AFX