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Swiss Market Closes Weak

The Switzerland stock market shrugged off a mild early setback on Wednesday, and despite staying positive for much of the day's session, eventually ended on a negative note.

The benchmark SMI, which rose to 10,439.74 around mid-morning, ended the day with a loss of 25.51 points or 0.25% at 10,330.06, slightly off the session's low.

Roche Holding slid about 1.75%. UBS Group declined 0.8%, while Novartis, Swisscom and SGS closed lower by 0.3 to 0.5%.

UBS Group declined 0.8% and Credit Suisse edged down marginally.

On the other hand, Sika gained about 2.5%, Geberit, Partners Group and Lonza Group advanced 1.2 to 1.5%, and Swatch Group moved up 1%.

In the midcap section. AMS gained 2.2% after the company said it had entered into a domination and profit and loss transfer agreement with German firm Osram Licht.

Logitech surged up 2.8%, while Ems Chemie Holding, BB Biotech, Kuehne & Nagel, Bucher Industries, Sonova and VAT Group gained 1.3 to 1.7%.

Dufry, Partners Group, Galenica Sante and Cembra Money Bank also ended notably higher.

Among the losers, Dorma Koba Holding went down by about 2%. Temenos Group slid 1.5%, while Swiss Prime Site, Helvetia and OC Oerlikon Corp declined 1 to 1.25%.

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