The Swiss market initially made a recovery and shifted into positive territory after a sluggish start on Monday morning. However, it soon pulled back and remained in negative territory for the remainder of the session.
The key SMI index, which had risen to 12,355.26 during the day, concluded the session down by 64.89 points, marking a 0.53% decline that settled at 12,261.87 — just shy of the day's low at 12,251.99.
Shares of SGS and VAT Group fell approximately 2.3% and 2.2%, respectively. UBS Group's stock declined by 1.55% following the bank's agreement to divest Credit Suisse's 50% stake in the credit card firm Swisscard to American Express, its joint venture partner, for undisclosed terms.
Swiss Re, Kuehne + Nagel, Lonza Group, Lindt & Spruengli, Straumann Holding, Givaudan, Geberit, Adecco, and Sika saw their shares slip between 1% and 2%.
Biopharmaceutical company Relief Therapeutics experienced a significant surge of nearly 16% in its stock price after announcing that it received a notice of allowance from the European Patent Office for its unique hypochlorous acid solutions.
Meanwhile, Sandoz Group saw its shares rise by 4.62%. Swatch Group increased by approximately 1.25%, with Logitech International and Nestlé gaining 0.87% and 0.44%, respectively.
