BRUSSELS (dpa-AFX) - The Switzerland stock market ended notably lower on Wednesday, in line with the trend seen in markets across Europe, amid concerns about inflation in the wake of recent upbeat U.S. economic data.
The benchmark SMI ended down 98.32 points or 0.9% at 10,809.28. The index, which languished in negative territory right through the session, touched a low of 10,783.99.
Among SMI components, only Swisscom and Nestle ended on the positive side. Swisscom moved up nearly 0.5%, and Nestle edged up marginally. Nestle announced that it has agreed to sell Nestlé Waters North America to One Rock Capital Partners LLC in partnership with Metropoulos & Co. for $4.3 billion.
Partners Group ended lower by more than 2.5%. LafargeHolcim and Sika closed lower by 2.3% and 2.1%, respectively. Richemont, Alcon, ABB, Swiss Re, Roche Holding and Givaudan lost 1 to 1.6%.
UBS Group and Novartis both ended lower by nearly 1%. Geberit, Swatch Group, Credit Suisse and SGS shed 0.6 to 1%.
Among the stocks in the Mid Price Index, Logitech, VAT Group, AMS and Straumann Holding lost 2 to 3.5%. Cembra Money Bank, Ems Chemie Holding, Schindler Holding, Schindler Ps. Julius Baer, Georg Fischer and SIG Combibloc ended lower by 1.6 to 2.8%.
The Swiss government has announced a partial relaxation of coronavirus shutdown rules in the country. Accordingly, shops, museums and sports facilities in Switzerland will be allowed to re-open from March 1.
The government said the ban on outside gatherings of more than five people will also be eased, but the number will remain limited to 15. Libraries, zoos and botanical gardens will also be made accessible to the public again, although restaurants will remain closed and a work-from-home policy will be maintained.
The government said further that it will consider the situation regularly and decide on a further easing every four weeks.
Copyright RTT News/dpa-AFX