{"id":9297,"date":"2021-04-29T18:22:22","date_gmt":"2021-04-29T18:22:22","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/04\/29\/swiss-market-fails-to-hold-gains-ends-modestly-lower\/"},"modified":"2021-04-29T18:22:22","modified_gmt":"2021-04-29T18:22:22","slug":"swiss-market-fails-to-hold-gains-ends-modestly-lower","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/04\/29\/swiss-market-fails-to-hold-gains-ends-modestly-lower\/","title":{"rendered":"Swiss Market Fails To Hold Gains, Ends Modestly Lower"},"content":{"rendered":"<p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> After opening modestly higher and staying in positive territory till nearly a couple of hours past noon on Thursday, the Switzerland stock market slipped into the red and eventually ended the session on a weak note.<\/p>\n<p>The benchmark SMI, which advanced to 11,162.20, ended the day with a loss of 23.95 points or 0.22% at 11,079.51, after drifting to a low of 11,162.20.<\/p>\n<p>Swiss Re declined 1.55%, Geberit shed 1.25% and Novartis ended lower by 1.05%. Swiss Life Holding, Swatch Group, ABB, Credit Suisse and Roche Holding lost 0.8 to 1%.<\/p>\n<p>Swisscom shares rallied 4.35% after the company said net profit for the quarter rose to 638 million Swiss francs ($701.6 million) from CHF395 million in the first quarter of 2020. Net revenue for the period climbed to CHF2.80 billion from CHF2.74 billion. <\/p>\n<p>The company said that net profit and revenue for the first quarter increased, mostly due to a shareholding that its Fastweb <span class=\"landLinks\">business<\/span> transferred as a capital contribution to a new fiber-optic network company in partnership with Italy&#8217;s Telecom Italia SpA.<\/p>\n<p>Swisscom now expects 2021 net revenue of around CHF11.3 billion, and Ebitda between CHF4.3 billion and CHF4.4 billion.<\/p>\n<p>Lonza Group gained about 2.5% and Partners Group gained 1.3%, while Nestle advanced 0.7%. UBS Group shares edged up marginally.<\/p>\n<p>Among the stocks in the Mid Price Index, Clariant lost more than 4% after saying it expects to achieve moderate local currency sales growth in continuing operations in FY21.<\/p>\n<p>Logitech ended nearly 4% down. Schindler Holding, Schindler Ps, Kuehne &amp; Nagel, Cembra Money Bank and Vifor Pharma lost 1 to 1.6%.<\/p>\n<p>Straumann Holding surged up 7.3%. Temenos Group shares gained 1.6%, while Sonova and Lindt &amp; Spruengli moved up 1.05% and 0.8%, respectively. <\/p>\n<\/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 Gains, Ends Modestly Lower<\/a><br \/>\n<br \/>2021-04-29 18:22:22<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>After opening modestly higher and staying in positive territory till nearly a couple of hours past noon on Thursday, the Switzerland stock market slipped into the red and eventually ended&#8230;<\/p>\n","protected":false},"author":2,"featured_media":9298,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"class_list":{"0":"post-9297","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-euro-markets"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/9297","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=9297"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/9297\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/9298"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=9297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=9297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=9297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}