Swiss market slips after hitting new high and settles moderately to the downside
(RTTNews) – The Swiss stock market opened lower on Monday morning, and despite emerging into positive territory afterwards, it weakened at noon and continued to slide as the day progressed to eventually close low.
Amid a lack of meaningful positive triggers, investors chose to take profits. The benchmark SMI, which hit a new high at 11,433.76, ended with a loss of 62.70 points or 0.55% to 11,363.45, the day’s low.
Roche Holdings, Holcim, Novartis, Zurich Insurance Group, Swiss Re, UBS Group, Swiss Life Holding, Lonza Group and Credit Suisse lost 0.5 to 1%.
Partners Group and Richemont, up 0.5% and 0.3% respectively, were the two winners of the SMI index.
Among the values of the Swiss Mid Price Index, Dufry and Baloise Holding lost 1.4% and 1.1% respectively. Tecan Group, Schindler Ps, Swiss Prime Site and Adecco ended down 0.7 to 0.85%.
Flughafen Zurich gained almost 1.5%, Lindt & Spruengli AG N gained 1.3% and Lindt & Spruengli AG Part gained 1%.
On the vaccination front, reports indicate that the COVID-19 vaccination rate in Switzerland is now among the best in the world. The Swiss health ministry reportedly said that one million doses of the Moderna vaccine arrived in Switzerland on Saturday (May 29) with an additional 2.5 million doses of Moderna and Pfizer / Biontech expected next month.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.