The Switzerland stock market climbed to fresh new high on Friday as the mood remained bullish once again amid continued optimism about global economic recovery and strong corporate earnings.
Worries about the spread of the delta variant of the coronavirus did weigh, but the market still managed to stay firm right through the day’s session.
The benchmark SMI ended with a gain of 35.27 points or 0.28% at 12,464.44, a new closing high. The index touched a high of 12,478.66.
Nestle, Zurich Insurance Group, Partners Group, Swiss Life Holding, Swiss Re and Givaudan gained 0.5 to 0.85%.
Swatch Group shed about 1.1%, while Alcon, Credit Suisse and SGS closed lower by about 0.75%. Geberit ended nearly 0.5% down.
Among the stocks in the Swiss Mid Price Index, Dufry climbed 1.82%, while Julius Baer, Vifor Pharma, Helvetia and Galenica Sante gained 1 to 1.1%.
Logitech declined more than 2%. Straumann Holding, Adecco, AMS and Tecan Group ended lower by 0.8 to 1.1%.
On the economic front, data from the Federal Statistical Office showed Switzerland’s producer and import prices rose 3.3% year-on-year in July.
The producer price index increased 2.1% annually in July and import prices accelerated 5.9%.
On a monthly basis, producer and import prices increased 0.5 percent in July.
SMI Rises To Another New High, Ends On Firm Note
2021-08-13 17:32:02
