Swiss Market Closes Lower Again

(RTTNews) - The Switzerland stock market ended notably lower on Monday, extending losses to a third straight session, as worries about escalating tensions in Eastern Europe rendered the mood bearish.

The market opened on a positive note, but slipped into negative territory about an hour before noon and stayed weak right till the end of the session.

The benchmark SMI, which advanced to 12,095.22 earlier in the day, touched a low of 11,852.99 before closing at 11,891.88 with a loss of 118.21 points or 0.98%.

Credit Suisse declined 3.1%. Givaudan, UBS Group and ABB ended lower by 2.65%, 2.5% and 2.2%, respectively.

Zurich Insurance Group, Partners Group, SGS, Swiss Life Holding, Lonza Group, Novartis, Holcim, Geberit and Swiss RE lost 1 to 1.82%.

Nestle and Logitech bucked the trend and closed modestly higher.

In the Mid Price Index, BB Biotech, Zur Rose, Julius Baer, Cembra Money Bank, Sonova and Dufry declined 3 to 4.1%.

Georg Fischer ended nearly 3% down. OC Oerlikon Corp, Kuehne & Nagel, Temenos Group, Straumann Holding, VAT Group, AMS and Schindler Holding declined 1.65 to 2.3%.

Swatch Group gained 0.87%. Logitech and Swiss Prime Site ended higher by 0.35% and 0.28%, respectively.