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Swiss Market Ends Notably Lower

The Switzerland stock market ended sharply lower on Monday, in line with global markets, as investors chose to lighten commitments amid worries about slowing global growth and caution ahead of the Federal Reserve's policy meeting.

The benchmark SMI ended with a loss of 169.11 points or 1.42% at 11,766.42. The index touched a low of 11,643.42 and a high of 11,818.42 in the session.

On Friday, the index ended down by 92.91 points or 0.77% at 11,935.53.

Credit Suisse plunged 7.55% and UBS Group ended down by 6.56%. Swiss Life HOlding, Holcim, Richemont, Swiss Re, ABB, Swatch Group, Partners Group and Zurich Insurance Group lost 2.4 to 3.8%.

Sika declined by about 1.5%, while Swisscom and Geberit lost 1.1% and 1%, respectively.

Logitch, the lone gainer in the SMI index, moved up 0.82%.

Among the stocks in the Mid Price Index, Zur Rose and Julius Baer both ended lower by about 5.7%. Schindler Holding, Schindler Ps, Georg Fischer, Lindt & Spruengli, Swatch Group, Baloise Holding, Clariant, SIG Combibloc and Ems Chemie Holding lost 2 to 3.25%.

Flughafen Zurich shares climbed 4.25% and Dufry gained about 3.75%. Logitech moved up 0.8%.

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