Swiss Market Extends Losing Streak

(RTTNews) - The Switzerland stock market ended weak on Friday, extending losses to a fourth straight session, as the mood turned cautious in the final hour due to concerns about the likely impact of surging coronavirus on economic recovery.

The benchmark SMI ended with a loss of 55.79 points or 0.46% at 12,060.64, near the session's low of 12,049.94. The index advanced to a high of 12,158.93 in early trades.

Swisscom, Swiss Re, Credit Suisse and Novartis shed 1.4 to 1.6%. Roche Holding ended lower by about 1.1% and Swiss Life Holding declined nearly 1%. Zurich Insurance Group ended 0.7% down, while UBS Group declined marginally.

Richemont shares climbed 2.8%. Swatch Group and ABB posted modest gains.

Among the stocks in the Mid Price Index, Adecco Group ended more than 3% down, Barry Callebaut shed 2.8%, Swiss Prime Site and Vifor Pharma both lost about 2.1%, and Lindt & Spruengli ended lower by 1.6%.

AMS rallied nearly 2.5%. Temenos Group and VAT Group gained 1.55% and 1.4%, respectively. SIG Combibloc and Straumann Holding also closed notably higher.