Swiss Market Settles Notably Lower

(RTTNews) - The Switzerland market ended notably lower on Monday as stocks struggled to find support almost right through the session due to a lack of triggers.

The benchmark SMI settled with a loss of 89.34 points or 0.62% at 14,254.36, after moving between 14,222.11 and 14,341.80.

Amrize shed nearly 3%. The building materials company announced that it has agreed to acquire Rapid Redi-Mix LLC, a concrete-producing company in the Dallas-Fort Worth metro area. The financial terms of the deal were not disclosed.

Swiss Re and Sika closed lower by 2.1% and 1.9%, respectively. Novartis, Helvetia Baloise Holding, Kuehne + Nagel, Sandoz Group, UBS Group, Partners Group and Swiss Life Holding lost 1%-1.6%.

Geberit shed nearly 1%. SGS, Roche, Zurich Insurance, Holcim, Swisscom and Givaudan also ended weak.

Richemont climbed 1.3%. Julius Baer, Galderma Group and Nestle posted modest gains.