{"id":13230,"date":"2021-08-24T17:42:18","date_gmt":"2021-08-24T17:42:18","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/08\/24\/swiss-market-fails-to-hold-early-gains-closes-weak\/"},"modified":"2021-08-24T17:42:18","modified_gmt":"2021-08-24T17:42:18","slug":"swiss-market-fails-to-hold-early-gains-closes-weak","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/08\/24\/swiss-market-fails-to-hold-early-gains-closes-weak\/","title":{"rendered":"Swiss Market Fails To Hold Early Gains, Closes Weak"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> The Switzerland stock market failed to hold early gains and ended weak on Tuesday as a surge in <span class=\"landLinks\">coronavirus<\/span> cases rendered the mood a bit bearish.<\/p>\n<p>The benchmark SMI, which dropped to 12,409.13, ended with a loss of 40.21 points or 0.32% at 12,436.66. The index touched a high of 12,524.10 in early trades.<\/p>\n<p>Shares of drugmaker Novartis lost 1.7% after the company said its Kymriah CAR-T therapy did not meet its primary endpoint of event-free survival in a phase III study.<\/p>\n<p>Swisscom declined 1.55%. Geberit, Givaudan and Roche Holding ended lower by 0.85%, 0.7% and 0.55%, respectively.<\/p>\n<p>Credit Suisse, Partners Group and Richemont gained 0.8% to 1.05%. Holcim, UBS Group, Swiss Life Holding and Swiss Re also closed higher.<\/p>\n<p>In the Mid Price Index, Tecan Group declined 2.1% and Sonova closed nearly 2% down. BB Biotech, Vifor Pharma, Straumann Holdings, Adecco and Galenica Sante shed 0.9 to 1.2%.<\/p>\n<p>Dufry shares gained nearly 4%. Cembra Money Bank ended 3.6% up, extending gains from the previous session. AMS surged up 2.8% and Flughafen Zurich gained about 1.1%.<\/p>\n<p>Switzerland is being hit by a fourth wave of the coronavirus with a &#8220;very worrying&#8221; rise in infections, Patrick Mathys, a top official at the Federal Office of Public Health, said today.<\/p>\n<p>New cases have reportedly risen in in Switzerland to between 2,500-3,000 a day. Cases are rising among young people, elderly people and under 10s, said Mathys. <\/p>\n<\/p>\n<p>Market Analysis<\/p>\n<\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>Swiss Market Fails To Hold Early Gains, Closes Weak<\/a><br \/>\n<br \/>2021-08-24 17:42:18<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Switzerland stock market failed to hold early gains and ended weak on Tuesday as a surge in coronavirus cases rendered the mood a bit bearish. The benchmark SMI, which&#8230;<\/p>\n","protected":false},"author":2,"featured_media":13231,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.unsplash.com\/photo-1531412501799-1b4c354ca957?ixid=MXwxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHw=&ixlib=rb-1.2.1&auto=format&fit=crop&w=2734&q=80","fifu_image_alt":"","footnotes":""},"categories":[29],"tags":[],"class_list":["post-13230","post","type-post","status-publish","format-standard","has-post-thumbnail","category-euro-markets"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/13230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=13230"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/13230\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/13231"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=13230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=13230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=13230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}