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The Switzerland stock market, which stayed a bit sluggish for nearly a couple of hours Tuesday morning, kept sliding as the session progressed, weighed down by some weak earnings, and eventually ended notably lower. <\/p>\n
The benchmark SMI ended down 70.01 points or 0.63% at 11,092.08. The index touched a high of 11,178.42 by mid morning.<\/p>\n
UBS Group shares ended lower by about 2% after the lender reported an unexpected $774 million hit from the collapse of U.S. investment fund Archegos.<\/p>\n
Swiss Life Holding shed 5.5% and Swatch Group declined 2.3%. Novartis, LafargeHolcim, Richemont and Swiss Re lost 1 to 1.6%.<\/p>\n
Roche Holding, Nestle and Alcon ended with modest losses, while SGS, Geberit and Givaudan closed flat.<\/p>\n
Credit Suisse moved up more than 3% and Sika gained 1.05%. ABB ended nearly 1% up as the Swiss engineering company unveiled plans to float its electric vehicle charging business<\/span>.<\/p>\n Among the stocks in the Mid Price Index, Kuehne & Nagel shed about 2.2%, Vifor Pharma, Tecan Group, Galenica Sante, Helvetia, SIG Combibloc and Baloise Holding lost 1.4 to 1.85%.<\/p>\n BB Biotech, Lindt & Spruengli, Clariant, VAT Group and Dufry posted modest gains. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n