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Swiss Market Extends Losing Streak

The Switzerland stock market ended notably lower on Friday, extending losses to a fourth straight session.

In addition to worries about U.S.-China trade dispute, the spat between the European Union and Switzerland continued to weigh on sentiment.

The benchmark SMI ended down 116.55 points, or 1.18%, at 9,762.98, near the day's low. The index touched a high of 9,886.38 in early trades, gaining marginally in the process.

On Thursday, the index ended down 58.03 points, or 0.58%, at 9,879.53.

Roche Holding, the most prominent loser in the SMI, ended down nearly 3%. Novartis shed 2.6% and Lonza Group declined by about 2.2%, while Swiss Re ended lower by 1.17%.

Alcon, Zurich Insurance Group, Richemont, Nestle and Sika lost 0.4 to 0.8%.

Swatch Group shares moved up nearly 3%. SGS, UBS Group, Credit Suisse, Givaudan, ABB and Geberit ended with modest gains.

Swisscom ended flat. According to reports, Swisscom accidentally deleted data pertaining to hundreds of customers when doing maintenance work on an online cloud service.

"This mistake should not have happened and is extremely unpleasant for us," reported newspaper Tages-Anzeiger, quoting a spokeswoman as saying. The report also said the company offered a customer 50 Swiss francs in compensation.

Among midcaps, Barry Callebaut shed 2.4%, AMS declined 1.7% and Straumann Holding ended lower by about 1%.

On the other hand, EMS Chemie Holding gained 5.4%. Dorma Kaba Holding moved up 2.3%. Clariant gained 1.8%, while Dufry, Georg Fischer, Swiss Prime Site, Julius Baer and PSP Swiss Property posted modest gains.

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