BRUSSELS (dpa-AFX) - The Switzerland stock market ended notably lower on Thursday, extending losses to a fourth straight session, amid lingering worries about growth due to continued surge in coronavirus cases.
A few disappointing earnings reports weighed as well.
The benchmark SMI ended with a loss of 62.51 points or 0.65% at 9,556.14, coming off the day's low of 9,496.22. The index advanced to 9,670.45 in early trades.
With today's loss, the SMI has shed about 4.8% this week.
Credit Suisse fell more than 5.5% after it posted a steeper-than-expected slide in third-quarter profit. The lender's profit slid 38% during the quarter to 546 million Swiss francs as it contended with its strongest foreign currency adversities in nearly a decade. The drop was also due to higher provisioning and a one-off boost which had flattered last year's numbers.
Alcon ended lower by 3.3%. Richemont, ABB and Novartis lost 1 to 1.4%, while Partners Group, Swiss Life Holding, Geberit, Givaudan and SGS declined 0.6 to 0.9%.
On the other hand, Swisscom and Sika gained 1.75% and 1.25%, respectively. Swiss Re advanced 0.7% and LafargeHolcim gained about 0.5%.
In the Mid Price Index, Flughafen Zurich declined 2.85%. Clariant and Adecco lost 2.3% and 2.1%, respectively, while Sonova, OC Oerlikon Corp, Barry Callebaut, Helvetia and Temenos Group ended lower by 0.7 to 1.4%.
Among the gainers, AMS rallied 3.6%, BB Biotech surged up 2.6%, VAT Group advanced 2.5% and Lindt & Spruengli moved up 2.3%.
In coronavirus update, new cases rose by 9,386 in a day, according to data from Swiss health authorities. Total cases in Switzerland and tiny neighbouring principality Liechtenstein have reportedly increased to 145,044 and the death toll rose by 31 to 1,985.
The Swiss government has already tightened restrictions to slow down the rapid spread of coronavirus infections in the country.
Copyright RTT News/dpa-AFX
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