BRUSSELS (dpa-AFX) - The Switzerland market kept drifting lower and lower after a weak start on Tuesday and eventually ended the day's session firmly in negative territory.
The benchmark SMI ended down by 167.44 points or 1.34% at 12,360.15, slightly off the session's low of 12,343.31.
Sika ended nearly 6% down. The stock lost ground as JP Morgan cut its rating to 'underweight' from 'neutral', and cut its target price sharply to CHF 160.
Novartis closed 4.1% down. The drugmaker has defended its $12 billion deal to acquire Avidity Biosciences ahead of the U.S. firm getting late-stage data for its muscle disorder treatment next year, saying it was 'an appropriate risk to take'.
Roche Holding, Straumann Holding, Sonova, Lindt & Spruengli, Alcon, Givaudan, Swiss Re, Lonza Group and VAT Group lost 1.3 to 2.4%.
Holcim gained nearly 1% after JP Morgan raised the stock's target price.
Galderma Group climbed about 2.3%. Amrize gained 1.14%. Swatch Group and UBS Group also closed on a firm note.
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