ZURICH (Dow Jones) – After an unsettled course, the stock market in Switzerland narrowly closed on Monday. In the meantime there have been more significant losses as well as gains. Participants justify the nervous ups and downs with the diverging factors: pessimism because of the second corona wave and optimism because of the progress made with a vaccine. The market was supported somewhat by purchases at the end of the month, while Wall Street specifications, which fell more sharply in early business, had a negative impact.
The SMI lost 0.2 percent to 10,476 points. In the 20 SMI stocks, there were 12 losers and 8 winners. 80.55 (previously: 40.38) million shares were traded.
Lonza shares continued their ups and downs, climbing 3.2 percent. At the beginning of the previous week, the stock had benefited from the fact that the company was on board in the manufacture of Moderna’s vaccine against the coronavirus. With the somewhat more sober assessment of the short-term prospects of success, she then came under pressure. Participants saw the Monday gains as another countermovement.
The Adecco share rose 2.1 percent to 55.04 francs after the Credit Suisse analysts raised the share to “Outperform” from “Underperform”. The new target price is 62 francs.
Bank values were given. The stocks of the industry developed strongly across Europe in November with the increasing risk appetite. Now stockbrokers took profits. Credit Suisse and UBS each lost around 2 percent. Also at Swatch (-2.3 percent) and Richemont (-1.7 percent) investors reaped profits.
Contact the author: [email protected]
DJG / once / mgo
(END) Dow Jones Newswires
November 30, 2020 11:42 ET (16:42 GMT)