After a slightly positive start, the Switzerland stock market kept edging higher as the session progressed on Monday to eventually close on a fairly solid note, in line with the trend seen across Europe.
Traders picked up stocks amid optimism about swifter economic recovery thanks to a drop in new coronavirus cases in several places, and greater momentum in vaccination drive across the world.
The benchmark SMI ended with a gain of 60.62 points or 0.56% at 10,940.99, extending gains to a sixth straight session.
Credit Suisse ended nearly 3% up. UBS Group and LafargeHolcim both ended higher by about 1.8%. Swiss Life Holding, Swiss Re, Richemont, SGS, Partners Group and Zurich Insurance Group moved up 1.1 to 1.3%.
Roche Holding ended flat. Novartis gained about 0.5%.
In the Swiss Mid Price Index, Dufry climbed 4.65% and Clariant surged up 2.7%. VAT Group ended nearly 2% up, while Adecco and Helvetia gained 1.8% and 1.6%, respectively.
Julius Baer, Vifor Pharma, Galenica Sante, BB Biotech, SIG Combibloc and Kuehne & Nagel also ended notably higher.
Meanwhile, the Swiss Federal Council is reportedly under increasing pressure to relax the restrictions taken to combat the spread of the coronavirus. With the Covid infection rate in the country falling, health ministers of various cantons are said to be urging authorities to re-open restaurants and non-essential businesses.
Swiss Health Minister Alain Berset has said that the Federal Council hadn’t ruled out a relaxation of at least some of the existing measures. “The Federal Council understands the frustration in the population. The Federal Council would also like to see easing, that’s clear,” he said.
Swiss Market Ends Higher For 6th Straight Day
2021-02-15 19:00:38
