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Swiss Market Ends Notably Lower

The Switzerland stock market ended notably lower on Friday after languishing in the red right through the day's session, amid worries about the impact of the coronavirus pandemic on the global economy.

An escalation in U.S.-China trade tensions over virus outbreak and the Hong Kong issue hurt as well.

The benchmark SMI ended down 101.86 points, or 1.04%, at 9,788.99. The index scaled a low of 9,604.37 and a high of 9,729.29 in the session.

On Wednesday, the SMI ended with a modest gain of about 0.27%. The market remained shut on Thursday for Ascension Day holiday.

Richemont declined 3.85% and Credit Suisse shed about 3%. UBS Group and Swiss Life Holding ended lower by 2.4% and 2%, respectively.

Nestle ended 1.85% down, while Swatch Group, LafargeHolcim, Givaudan and ABB lost 1.2 to 1.4%.

Roche Holding shares declined marginally. According to reports, U.K. has agreed to acquire over 10 million coronavirus antibody tests from Roche and Abbott.

Roche also announced that it has acquired U.S.- based Stratos Genomics to further develop DNA-based sequencing for diagnosis use.

Baloise Holding said it has acquired minority stake in Batmaid, a digital platform for domestic cleaning services. The stock ended lower by about 2.1%.

Dufry declined 4.7%. Bucher Industries, Kuehne & Nagel, AMS, Julius Baer, Lindt & Sp Ps and VAT Group lost 2 to 3.6%.

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