The Swiss stock market lost ground on Monday. Economic concerns still dominated the conversation, with shares dragged down by worries about a global slowdown and about the euro-zone debt crisis.
Better-than-expected housing data from the U.S. helped brighten the mood in the afternoon. However, the market still finished the day notably weaker.
The benchmark SMI dropped 0.75 percent to close at 5,944.48. The SLI slipped 1.1 percent. The SPI retreated 0.82 percent.
ABB was one of the notable losers on the session. Shares dropped 2.8 percent after JP Morgan lowered its rating on the stock to Underweight from Neutral.
Cyclicals were generally weak as well. Adecco dropped 2.7 percent, Kuehne + Nagel declined 2.5 percent and Lonza fell 2.1 percent.
by RTT Staff Writer
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