{"id":7759,"date":"2021-03-03T19:08:58","date_gmt":"2021-03-03T19:08:58","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/03\/03\/swiss-market-ends-modestly-lower-on-profit-taking\/"},"modified":"2021-03-03T19:08:58","modified_gmt":"2021-03-03T19:08:58","slug":"swiss-market-ends-modestly-lower-on-profit-taking","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/03\/03\/swiss-market-ends-modestly-lower-on-profit-taking\/","title":{"rendered":"Swiss Market Ends Modestly Lower On Profit Taking"},"content":{"rendered":"
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The Switzerland stock market ended weak on Wednesday as investors chose to take some profits, cashing in recent gains. Uncertainty about near term outlook for the market amid a rebound in Treasury yields weighed as well on stocks.<\/p>\n

The benchmark SMI, which stayed positive till around noon, gradually edged lower as the session progressed to eventually settle at 10,771.81, netting a loss of 45.27 points or 0.42%.<\/p>\n

The SMI ended 1.05% up on Tuesday, after scoring a gain of about 1.75% a day earlier.<\/p>\n

Lonza Group shed about 2.2%, Givaudan ended 2.1% down and Alcon closed lower by about 1.5%. Swiss Life Holding and Roche Holding ended nearly 1% down, while Nestle slid 0.85%. Swisscom ended 0.58% down.<\/p>\n

Credit Suisse and UBS Group edged down marginally. Novartis shed 0.2%.<\/p>\n

Among the gainers in the SMI, Partners Group advanced 1.1%, Richemont ended nearly 1% up and Swatch Group moved up 0.9%, while Zurich Insurance Group moved up 0.67%.<\/p>\n

In the Mid Price Index, Logitech, Sonova, Vifor Pharma, Straumann Holding, Galenica Sante and Ems hemie Holdings lost 2 to 4%.<\/p>\n

Kuehne & Nagel rallied more than 7%. The logistic firm said that it looks forward to the year 2021 with confidence. After closing the year 2020 with a record operating result, the company said it looks forward to the year 2021 with confidence.<\/p>\n

Georg Fischer climbed 6.2%, Adecco firmed up 2.6%, Julius Baer gained 2.2%, Helvetia, OC Oerlikon Corp, SIG Combibloc and Flughafen Zurich moved up 1.6 to 2%.<\/p>\n

In economic news, data from the Federal Statistical Office showed Switzerland’s consumer prices continued to decline in February, decreasing 0.5% year-on-year, same as seen in January. Economists had expected a 0.3% fall.<\/p>\n

On a monthly basis, consumer prices rose 0.2% in February, following a 0.1% increase in the previous month. Economists had forecast a rise of 0.4%. <\/p>\n

The core CPI rose 0.1% yearly in February and declined 0.3% from the previous month. <\/p>\n<\/p>\n

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