Despite a weak start and a subsequent sluggish display that lasted till an hour past noon, the Switzerland stock market ended on a firm note on Tuesday.
The benchmark SMI ended with a gain of 50.08 points or 0.45% at 11,098.66, after recording a fresh 52-week high of 11,118.33.
Swisscom, up 2.3%, was the top gainer in the SMI index. Givaudan gained about 2%, while Nestle and Alcon both ended higher by about 1.6%. Lonza Group moved up 1.25%.
Novartis shares ended 1.2% up after the company announced positive results from its phase III VISION study evaluating the efficacy and safety of radioligand therapy 177Lu-PSMA-617 in patients with advanced prostate cancer.
SGS, Sika, Zurich Insurance Group and Geberit also ended with solid gains. Credit Suisse closed modestly higher.
Roche Holding shares ended 1.7% down after the pharma firm announced that it will discontinue dosing in a Phase III study evaluating its investigational candidate tominersen in manifest Huntington’s disease.
Swtch Group declined 2.4%, while Richemont ended lower by about 0.5%. UBS Group and ABB edged down marginally.
In the midcap section, Sonova moved up 3.7%, Temenos Group gained 3.1%, Logitech and Tecan Group both moved up by about 2%, and Swiss Prime Site ended 1.8% up.
AMS declined 5.2%, BB Biotech lost 2.7% and VAT Group ended 2.1% down, while Lindt & Spruengli, Dufry, Flughafen Zurich and Kuehne & Nagel ended lower by 1 to 1.3%.
Swiss online pharmacy Zur Rose Group shares rose sharply following a rating upgrade of the stock by Morgan Stanley.
Swiss Market Ends On Firm Note
2021-03-23 18:08:09
