{"id":11078,"date":"2021-06-22T18:16:06","date_gmt":"2021-06-22T18:16:06","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/06\/22\/swiss-market-ends-slightly-weak-on-profit-taking\/"},"modified":"2021-06-22T18:16:06","modified_gmt":"2021-06-22T18:16:06","slug":"swiss-market-ends-slightly-weak-on-profit-taking","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/06\/22\/swiss-market-ends-slightly-weak-on-profit-taking\/","title":{"rendered":"Swiss Market Ends Slightly Weak On Profit Taking"},"content":{"rendered":"
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The Switzerland stock market ended slightly weak on Tuesday as traders chose to take some profits after recent gains. <\/p>\n

After a slightly lower start, the market shed further ground, stayed weak till the end of the session despite staging a recovery of sorts.<\/p>\n

The benchmark SMI ended down by 13.15 points or 0.11% at 11,982.48, after scaling a low of 11,913.44 and a high of 11,991.31 intraday.<\/p>\n

Roche Holding shed about 1.1%. Swatch Group, UBS Group and Novartis ended lower by 0.4 to 0.6%, while Credit Suisse closed lower by about 0.3%.<\/p>\n

Sika, ABB and Geberit gained 1 to 1.2%. Lonza Group advanced 0.7%, while Partners Group, Holcim and Givaudan ended higher by 0.3 to 0.5%.<\/p>\n

Among the stocks in the Mid Price Index, Flughafen Zurich ended more than 3% down. Dufry and Logitech both closed lower by about 0.75%.<\/p>\n

OC Oerlikon Corp climbed 2.15%. Schindler Ps, VAT Group, Schindler Ps, Ems Chemie Holding and Georg Fischer gained 1 to 1.7%.<\/p>\n

Data released by Swiss National Bank showed Switzerland’s current account surplus widened to CHF 15.93 billion in the first quarter of 2021, from CHF 10.16 billion in the same period last year.<\/p>\n

The International Monetary Fund (IMF) said on Monday that Switzerland has managed to cope well with the coronavirus<\/span> pandemic from a financial perspective. In its latest country report, the IMF applauded Swiss Covid support measures and monetary policy.<\/p>\n

“Switzerland has navigated the pandemic well. Covid-19 has had major social and economic impacts, but an early, strong, and sustained health<\/span> and economic policy response helped contain the contraction of activity,” the IMF said in a statement on Monday.<\/p>\n

The Swiss economy<\/span> shrunk by 3% in 2020, less than most other wealthy European countries. The IMF says it expects Swiss growth to hit 3.5% in 2021 and 2.8% in 2022. These are in line with Swiss National Bank predictions. <\/p>\n<\/p>\n

Market Analysis<\/p>\n<\/div>\n