(Agencia CMA Latam) – The Switzerland stock market ended modestly higher on Tuesday as investors shrugged off worries about virus spread, vaccine delay and uncertainty about U.S. fiscal stimulus and shifted their focus to earnings and other stock-related news.
Investors also looked ahead to the Federal Reserve’s policy statement and views on economic outlook.
The benchmark SMI ended with a gain of 38.45 points or 0.35% at 10,964.05 after scaling a low of 10,919.91 and a high of 11,013.81.
UBS Group shares gained nearly 2.5% after the bank reported a surge in quarterly net profit and said it plans to buy back as much as 4 billion francs ($4.5 billion) of shares over the next three years.
Zurich Insurance Group, Partners Group and Nestle moved up 1.3 to 1.7%. Givaudan gained 1.3% and Swisscom climbed 1.2%, while Richemont and Swatch Group both ended higher by about 1%. Swiss Life Holding, LafargeHolcim, ABB and Roche Holding also closed notably higher.
Novartis ended lower by about 2.1% after the company offered cautious guidance and said the Covid-19 pandemic would continue to affect sales through the first half of 2021. The drugmaker posted net sales of $12.77 billion in the fourth quarter, up 1% from a year-ago.
In the midcap index, AMS climbed 6.8%. Temenos Group ended 4.1% up, while Swiss Prime Site, OC Oerlikon Corp, Dufry, PSP Swiss Property, Clariant, SIG Combibloc and Sonova moved up 1.5 to 2%.
Logitech, which posted a hefty gain in the previous session, ended lower by 1.6%. Tecan Group shares lost around 1.1%.
by Agencia CMA Latam
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Swiss Market Ends Modestly Higher
2021-01-26 19:16:54
