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Swiss Market Ends Notably Lower

The Switzerland stock market ended notably lower on Friday amid rising concerns about global economic growth due to the spread of coronavirus pandemic and fears of re-imposition of lockdown measures.

The benchmark SMI ended down 89.44 points or 0.89% at 10,005.90, after scaling a high of 10,199.62 and a low of 9,984.99 intraday.

Richemont, Nestle and Roche Holding shares lost 1.6 to 1.7%. ABB, SGS, Sika, Novartis and Geberit ended lower by 1 to 1.5%. Adecco lost about 0.85%.

Credit Suisse moved up 2.65%. Swiss Re, UBS Group, Givaudan and Lonza Group ended modestly higher.

In the midcap section, BB Biotech tumbed more than 3.5%, Clariant declined nearly 3% and Lindt & Sp Ps lost 2.25%.

Georg Fischer, Flughafen Zurich, Schindler Holding, Schindler Ps, AMS, Lindt & Spruengli, Dorma Kaba Holding, VAT Group, Kuehne & Nagel and Vifor Pharma lost 1 to 2%, while Logitech gained 1.6%.

In economic news, data from the Federal Statistical Office showed Switzerland's retail sales increased in June, rising by a working-day adjusted 1.1% year-on-year in June.

Sales of food, drink and tobacco gained 5.7% yearly in June, and those of non-food sector rose 0.1%. Other household equipment, textiles, DIY and furniture grew 19.7% and sales of information and communication equipment gained 43.8%.

Meanwhile, sales of other goods fell 11.7%. On a monthly basis, seasonally adjusted retail sales decreased 3.8% in June. In nominal terms, retail sales rose 0.4% annually in June and fell 3.6% from a month ago.

Among the other major markets in Europe, the U.K.'s FTSE 100 declined 1.54%, France's CAC 40 tumbled 1.43% and Germany's DAX ended lower by 0.54%. The pan European Stoxx 600 slid 0.89%.

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