The Switzerland stock market ended on a firm note on Tuesday, in line with the trend seen across Europe amid rising optimism about a quick global economic recovery.
The benchmark SMI, which stayed positive right through the day, ended with a gain of 77.15 points or 0.71% at 10,944.48, after moving in a tight range between 10,916.00 and 10,968.54.
Partners Group rose 2.8%, topping the list of gainers in the SMI. Lonza Group and Novartis both ended higher by nearly 1.5%, while Givaudan, UBS Group, Geberit, ABB and Nestle gained 0.8 to 1.1%.
Pharma company Roche has announced the launch of a new test to help researchers find coronavirus variants which are feared to be more harmful or could undermine vaccines. The new laboratory test is designed to detect mutations on the virus and monitor their prevalence and potential impact on infection, vaccines and therapies to combat Covid-19, the disease it causes, Roche said in a statement. The stock gained about 0.5%.
Swiss Life Holdings, SGS and LafargeHolcim lost 0.5 to 0.6%.
Among the stocks in the Mid Price Index, Tecan Group and SIG Combibloc both ended stronger by 4%. VAT Group, Dufry, Logitech, Kuehne & Nagel and Julius Baer gained 2 to 2.5%. Sonova and BB Biotech both ended nearly 2% up.
On the other hand, Flughafen Zurich ended 1.8% down and Barry Callebaut slild 1.7%. Lindt & Spruengli and Schindler Holding lost 1.4% and 1.1%, respectively.
Market Analysis
Swiss Market Closes Higher Again
2021-03-16 18:43:43
