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Swiss Market Ends Modestly Lower

The Switzerland stock market ended modestly lower on Wednesday after moving around the flat line for much of the day's session.

The mood was cautious amid persisting worries about growth due to rising coronavirus cases and tighter lockdown restrictions in several places across the world.

The rollout of coronavirus vaccines and expectations of another big economic stimulus in the U.S. helped limit market's downside.

The benchmark SMI ended down 28.37 points or 0.26% at 10,846.88, the session's low. The index touched a high of 10,907.09 after a flat start.

Richemont slid 1.65%, UBS Group ended 1.3% down, while Zurich Insurance Group and Credit Suisse lost 1.1% and 1%, respectively. Swatch Group, LafargeHolcim, Roche Holding and Partners Group lost 0.6 to 0.85%.

Alcon shares gained 2.7%. Givaudan moved up 1.05%, Sika gained 0.86% and Geberit advanced 0.7%. Lonza Group and SGS both gained about 0.5%.

In the midcap section, Temenos Group declined more than 3%. Dufry, Helvetia, Ems Chemie Holding and Baloise Holding lost 0.8 to 0.9%.

AMS and VAT Group gained 1.9% and 1.75%, respectively. Lindt & Spruengli, Straumann Holding, SIG Combibloc and Logitech gained 1 to 1.4%.

The Swiss government has announced the closure of non-essential shops and mandatory teleworking as well as the extension of restaurant and sports facilities closures.

President Guy Parmelin said the government had adopted these measures in a bid to "drastically reduce contacts" amid concerns that the highly contagious virus variant could lead to a resurgence in cases next month.

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