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Swiss Market Ends Lower For 5th Straight Day

The Switzerland stock market recovered well after a weak start on Monday, and despite suffering a setback again around mid afternoon, edged higher gradually to finish roughly flat.

The benchmark SMI ended down 7.37 points or 0.07% at 10,697.38, settling lower for fifth straight session. The index scaled a low of 10,610.65 and a high of 10,716.27.

SGS, Lonza Group and Geberit lost 2%, 1.6% and 1.1%, respectively. ABB slid 0.9%, Richemont lost 0.7% and Swatch Group ended lower by about 0.5%. Novartis and Roche Holding declined marginally.

Credit Suisse, UBS Group, Swiss Re and Swiss Life Holding gained 1 to 1.6%. Sika and Nestle posted modest gains.

In the midcap section, Tecan Group shares lost more than 7%. VAT Group, Ems Chemie Holding, Logitech, BB Biotech, Clariant and Lindt & Spruengli ended lower by 1 to 1.6%, while Vifor Pharma and Temenos Group lost 0.95% and 0.85%, respectively.

On the other hand, Flughafen Zurich, Kuehne & Nagel, Baloise Holding, Dufry, Julius Baer and Helvetia gained 1.5 to 3%. Georg Fischer, OC Oerlikon Corp and Galenica Sante also ended notably higher.

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