The Switzerland stock market ended on a firm note on Thursday, tracking gains in global markets amid rising optimism about strong economic rebound.
Easing fears about any monetary tightening by central banks, and data showing another drop in jobless claims in the U.S. aided sentiment.
The benchmark SMI opened on a strong note, and despite very nearly dropping toward the flat line before noon, gained in strength as the day progressed to end with an impressive gain.
The index ended the day with a gain of 106.88 points or 0.97% at 11,152.08, the day’s high.
Partners Group surged up 2.85%. Credit Suisse and Givaudan both ended higher by about 2.3%. Geberit, Sika, Lonza Group and UBS Group gained 1.5 to 2%.
Richemont, Roche Holding, Alcon, SGS, ABB and Nestle moved up 1 to 1.25%, while Novartis and Swatch Group edged up marginally.
Among the stocks in the Mid Price Index, Logitech ended more than 3% up. Cembra Money Bank gained nearly 3%. Temenos Group firmed up 2.65%, while Julius Baer, Kuehne & Nagel, Tecan Group, BB Biotech and VAT Group gained 1.5 to 2.3%.
Market Analysis
Swiss Market Closes Notably Higher
2021-05-20 18:35:12
