Swiss Market Closes Modestly Lower

(RTTNews) - The Switzerland stock market ended modestly lower on Thursday, spending most of the day's session in the red as investors looked for direction.

Lingering worries about global economic recovery amid the ongoing coronavirus pandemic rendered the mood cautious.

The benchmark SMI, which advanced to 10,149.90 after initial weakness, retreated soon, and then spent the rest of the session in the red. It ended the session with a loss of 30.84 points or 0.31% at 10,067.13, losing ground for the third consecutive session.

The index ended down 64.07 points or 0.63% at 10,097.97, almost near the day's low.

Swisscom declined 1.6% and Swiss Re ended down 1.25%. Givaudan, Roche Holding, LafargeHolcim, Swiss Life Holding and Swatch Group lost 0.6 to 0.75%.

Adecco, Geberit, Lonza Group and ABB ended modestly higher.

In the midcap section, Helvetia ended down 1.36%. Swiss Prime Site and VAT Group both ended lower by nearly 1%. Clariant, Temenos Group and Baloise Holding also closed weak.

On the other hand, Dufry gained about 2.3%, AMS surged up nearly 2%, Bucher Industries advanced 1.6% and Kuehne & Nagel posted a gain of 1.4%.

Among the other major indices in Europe, the U.K.'s FTSE 100 slid 1.27%, France's CAC shed 0.98% and Germany's DAX lost 0.54%. The pan European Stoxx 600 declined 0.73%.