Despite spending much of the day’s session in negative territory, the Switzerland stock market managed to settle modestly higher on Tuesday thanks to some brisk buying at a few top counters in the closing minutes.
The benchmark SMI, which dropped to 10,746.71 after a weak start, ended the session with a gain of 27.59 points or 0.25% at 10,857.97, the day;s high.
On Monday, the SMI ended with a handsome gain of 222.59 points or 2.1% at 10,830.38.
Alcon gained about 1.5% and SGS advanced 1.25%, while Partners Group, Nestle and Sika gained a little over 1%. Geberit and Roche Holding both closed nearly 1%.
Shares of drugmaker Novartis ended 0.8% down after the company said that phase III CANOPY-2 trial did not meet primary endpoint of overall survival in patients with advanced or metastatic non-small cell lung cancer.
UBS Group shed about 1.8%. Swisscom ended 0.67% down and Zurich Insurance Group lost 0.6%. Swiss Life Holdings and LafargeHolcim also closed weak.
In the Mid Price Index, Dufry and Straumann Holding both ended higher by about 3.25%. Sonova gained 2.8% and AMS moved up 2.75%.
Logitech ended 2.15% up. Kuehne & Nagel, Lindt & Spruengli, Vifor Pharma, Schindler Holding, Cembra Money Bank, Julius Baer, Schindler Ps and Tecan Group gained 1 to 1.7%.
Baloise Holding declined 4.2% and Flughafen Zurich ended 1.54% down. Helvetia, Clariant and Temenos Group also ended weak.
Market Analysis
Swiss Market Closes Higher Again
2021-03-09 19:09:40
