The Switzerland stock market closed on a strong note on Monday as traders built up positions after data showed a drop in the country’s jobless rate in the month of July.
The benchmark SMI, gaining 134.45 points or 1.1%, posted a new closing high as it settled at 12,310.75. The index rose to a fresh record high of 12,321.37.
Data from the State Secretariat for Economic Affairs showed Switzerland’s jobless rate fell a seasonally to 3% in July from 3.1% in June. On an unadjusted basis, the unemployment rate remained unchanged at 2.8% in July.
The number of registered unemployed declined to 128,279 in July from 131,821 in the preceding month.
The unemployment rate among the youth aged between 15 and 24, increased to 2.3% in July from 2.2% in the prior month.
Among the gainers in the day’s session, Roche Holding climbed about 2.6%. Zurich Insurance Group, Novartis, Lonza Group, Swisscom and Swiss Life Holding gained 1 to 1.5%.
Givaudan moved up nearly 1%. Alcon, Geberit, Nestle, UBS Group, Partners Group, Swiss Re and Credit Suisse also ended higher. Swatch Group shed about 0.7%.
Among the stocks in the Swiss Mid Price Index, Tecan Group, BB Biotech, Helvetia and Galenica Sante gained 1.75 to 2.4%, while Baloise Holding, Swiss Prime Site and SIG Combibloc moved up 0.9 to 1.1%.
AMS and Straumann Holding shed about 2.9% and 2.8%, respectively. Flughafen Zurich ended lower by 2%.
Swiss Market Ends At New High
2021-08-09 17:29:48
