The Switzerland stock market recorded a new high on Thursday as the mood remained bullish as continued optimism about growth helped offset concerns about surging coronavirus cases.
The benchmark SMI, which rose to 12,443.59, ended with a modest gain of 41.27 points or 0.33% at 12,429.17.
Zurich Insurance Group shares gained nearly 4%. The Swiss insurer’s Group first-half business operating profit jumped 60% to beat expectations.
Partners Group and Geberit moved up 1.25% and 1.05%, respectively. Holcim, Swiss Re, Novartis, Swiss Life Holding, Sika and ABB posted modest gains.
Credit Suisse ended nearly 0.5% down. Alcon and Nestle both ended lower by about 0.3%.
Among the stocks in the Mid Price Index, Straumann Holding climbed more than 3%. Vifor Pharma gained about 2.6% and Kuehne & Nagel gained 1.8%. Galenica Sante, Sonova, Temenos Group, Adecco, Logitech and Schindler Holding moved up 1 to 1.4%.
SIG Combibloc declined by about 2%. Dufry shed 1.1%, while VAT Group, BB Biotech, Lindt & Spruengli N and Cembra Money Bank ended lower by 0.6 to 0.8%.
In coronavirus news, the Swiss government has reported to have said it is too soon to lift remaining pandemic restrictions, such as the compulsory wearing of masks in public spaces.
Cranking up pressure on people who refuse to get vaccinated, the government wants to stop paying for tests for unvaccinated people who need one to attend large scale events.
“People who are not vaccinated or who have not recovered from Covid-19 wishing to attend an event where a Covid certificate is required will from 1 October have to pay for the test themselves or get vaccinated in the meantime,” a press release says.
Swiss Market Hits New Record High
2021-08-12 17:28:01
