Swiss Market Snaps 6-day Winning Streak

(RTTNews) - The Switzerland stock market ended marginally down on Monday after a choppy ride, as investors largely stayed cautious and refrained from making significant moves amid concerns about the ongoing war in Ukraine.

Reports about an emerging subvariant of omicron strain of the coronavirus in Europe also weighed on sentiment.f

Also, investors took some profits at a few counters after six successive days of gains.

The benchmark SMI, which dropped to 12,110.59 after opening marginally down, ended the day with a loss of 13.71 points or 0.11% at 12,171.28.

UBS Group, Swisscom and Swiss Life Holding gained 1.1 to 1.3%. Lonza Group, Swiss Re, Partners Group and Zurich Insurnance Group moved up 0.6 to 0.8%.

Richemont declined 2.1%. Sika shed about 1.1%, while Givaudan and Logitech both ended lower by about 0.85%. Holcim, Alcon and Nestle also ended weak.

In the Mid Price Index, Tecan Group rallied 4.3%. Lindt & Spruengli gained about 2.5%, SIG Combibloc surged up 1.9% and OC Oerlikon Corp gained 1.6%. PSP Swiss Property, Lindt & Spruengli N, Baloise Holding, Swiss Prime Site and Georg Fischer also closed higher.

BB Biotech declined 5.6% and Flughafen Zurich ended lower by nearly 2.5%. Swatch Group shed about 0.76%.