Swiss Market Closes Higher For 3rd Straight Day

Despite swinging between gains and losses and moving along the flat line for much of the day’s session, the Switzerland stock market ended on a firm note on Friday, as buying gathered momentum in the closing minutes.

Optimism about global economic recovery aided sentiment, while surging coronavirus cases and concerns on the vaccine front limited market’s gains.

The benchmark SMI ended with a gain of 64.27 points or 0.57% at 11,262.97, the day’s high. The index touched a low of 11,198.70 in the session. The index gained 0.3% and 0.38%, on Wednesday and Thursday, respectively.

LafargeHolcim gained about 2.1%. UBS Group ended nearly 2% up, while Sika, ABB and Partners Group gained 1.5 to 1.75%.

Credit Suisse, Zurich Insurance Group, SGS, Swisscom and Nestle also ended on a positive note, while Lonza Group, Richemont, Alcon and Roche Holding closed weak.

In the Mid Price index, Schindler Holding, Schindler Ps and VAT GRoup gained 3.1%, 2.7% and 2.5%, respectively. Logitech gained nearly 2% and Clariant ended higher by 1.8%.

Tecan Group, Adecco, Lindt & Spruengli, Swiss Prime Site, SIG Combibloc and Cembra Money Bank also closed notably higher.

Data released by the Federal Statistical Office showed Switzerland’s producer and import prices declined in March, falling 0.2% year-on-year.

The producer price index declined 0.4% annually in March and import prices increased 0.1%. On a monthly basis, producer and import prices increased 0.6% in March.

Prices for petroleum products, basic metals and semi-finished metal products as well as petroleum and natural gas were higher in March, the agency said.

Domestic sale prices grew 0.6% yearly in March and rose 0.4% from a month ago.