Swiss Market Ends Flat After Choppy Session

After a weak start and a subsequent modest recovery, the Switzerland stock market tumbled into the red Monday morning. Despite another recovery, the market failed to gain momentum and eventually ended the session on a flat note.

The mood was cautious amid weak global markets and concerns over the growing unrest in China following the imposition of stringent Covid-related restrictions.

The benchmark SMI settled at 11,162.16, down 5.87 points or 0.05%. The index touched a low of 11,115.37 and a high of 11.199.19 in the session.

Credit Suisse tumbled more than 4%. Sika ended nearly 3% down. Geberit and Partners Group drifted down 2.43% and 2.35%, respectively.

Sonova ended 1.52% down, and Sonova closed lower by 1.4%. UBS Group and Swiss Life Holding lost 1.1% and 0.8%, respectively.

Richemont climbed about 2.2% and Swiss Re gained nearly 1.5%., Swisscom, Nestle and Roche Holding posted modest gains.

In the Mid Price Index, Swiss Prime Site ended lower by 3.6% and Zur Rose drifted down 3%. AMS, Georg Fischer, Temenos Group, VAT Group, Straumann Holding and Tecan Group lost 2 to 2.5%.

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