(RTTNews.com) – The Swiss stock market ended Thursday’s session with a significant loss. The market spent much of the day in negative territory and ended the session at an intraday low.
The rest of the European markets also finished in the red Thursday. Early weakness in Europe was attributed to the weak performance of the Japanese market. Disappointing corporate earnings from some major European companies also weighed on sentiment. The weak open on Wall Street added to the negative mood in the afternoon.
The Swiss Market Index decreased by 0.95 percent Thursday and finished at 9,177.82. The Swiss Leader Index dropped 1.07 percent and the Swiss Performance Index lost 1.01.
ABB weakened by 2.0 percent after German competitor Siemens reported disappointing results.
Lonza, Logitech and Adecco all dropped between 2.5 and 3.0 percent.
Geberit fell 1.4 percent after analyst at Baader Helvea expressed concerns that the company will be able to achieve its medium-term goals.
The index heavyweights all finished in negative territory. Novartis declined 1.0 percent, Roche surrendered 0.9 percent and NestlÃ© finished lower by 0.8 percent.
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