Swiss Market Slips After Hitting Fresh Record High, Settles Moderately Lower

(RTTNews) – The Switzerland stock market opened lower Monday morning, and despite emerging into positive territory subsequently, faltered by noon and kept sliding as the day progressed to finally close weak.

Amid a lack of significant positive triggers, investors chose to take some profits. The benchmark SMI, which hit a fresh high at 11,433.76, ended with a loss of 62.70 points or 0.55% at 11,363.45, the day’s low.

Roche Holdings, Holcim, Novartis, Zurich Insurance Group, Swiss Re, UBS Group, Swiss Life Holding, Lonza Group and Credit Suisse shed 0.5 to 1%.

Partners Group and Richemont, up 0.5% and 0.3%, respectively, were the two gainers in the SMI index.

Among the stocks in the Swiss Mid Price Index, Dufry and Baloise Holding lost 1.4% and 1.1%, respectively. Tecan Group, Schindler Ps, Swiss Prime Site and Adecco ended lower by 0.7 to 0.85%.

Flughafen Zurich gained nearly 1.5%, Lindt & Spruengli AG N climbed 1.3% and Lindt & Spruengli AG Part gained 1%.

On the vaccination front, reports say the rate of vaccination against Covid-19 in Switzerland is now among the best in the world. The Swiss health ministry has reportedly said that a million doses of the Moderna vaccination arrived in Switzerland on Saturday (May 29) with another 2.5 million doses from Moderna and Pfizer/Biontech expected next month.