The Switzerland stock market ended modestly higher on Friday despite staying sluggish for much of the day’s session.
Optimism about global economic recovery supported the market, although worries about rising coronavirus cases and lockdown restrictions limited its gains.
The benchmark SMI ended up by 31.64 points or 0.28% at 11,238.52 after hitting a fresh high of 11,247.01.
Lonza Group shares gained nearly 2%. Givaudan moved up 1.7% and ABB gained about 1.25%. LafargeHolcim ended 0.9% up.
Geberit, Partners Group, Roche Holding, Nestle, Sika, SGS and Swiss Life Holding gained 0.5 to 0.9%.
Zurich Insurance Group ended 4.7% down and Credit Suisse shed 2.3%.
In the midcap section, VAT Group and Tecan Group gained 2.5% and 2.2%, respectively. Straumann Holding, Kuehne & Nagel, Georg Fischer and Sonova ended higher by 1 to 1.6%, while AMS ended 2.3% down.
In economic news, Switzerland’s jobless rate decreased in March, falling a seasonally adjusted 3.4% from 3.6% in February, data from the State Secretariat for Economic Affairs showed. Economists had expected a rate of 3.6%.
On an unadjusted basis, the unemployment rate fell to 3.3% in March from 3.4% in the previous month. Economists had forecast a rate of 3.6%.
The number of registered unemployed declined to 157,968 in March from 167,953 in the preceding month. The unemployment rate among the youth aged between 15 and 24, decreased to 3% in March from 3.5% in the prior month.
Market Analysis
Swiss Market Closes Modestly Higher
2021-04-09 18:42:41
