The Switzerland stock market, which faltered after a positive start Thursday morning and moved along the unchanged line till about a couple of hours past noon, gradually gained in strength thereafter to eventually end the session on a firm note.
The benchmark SMI settled with a gain of 77.93 points or 0.66% at 11,892.52, the day’s high. The index had drifted down to 11,786.25 earlier in the day.
Richemont rallied 4.12%. Partners Group gained nearly 2.5% and UBS Group climbed almost 2%. Credit Suisse, Swiss Life Holding and ABB gained 1.1 to 1.3%, while Nestle and Zurich Insurance Group both ended nearly 1% up.
Alcon, Givaudan and Swisscom shed 0.25 to 0.52%.
Among the stocks in the Swiss Mid Price index, VAT Group gained about 3.5% and Julius Baer ended nearly 3% up. Swatch Group, Tecan Group, Helvetia, Straumann Holding and OC Oerlikon Corp gained 1.7 to 2.2%.
In economic news, data released by the Federal Statistical Office showed Switzerland’s producer and import prices increased in September, rising by 4.5% year-on-year. The producer price index increased 2.9% annually in September and import prices accelerated 8.1%.
On a monthly basis, producer and import prices increased 0.2% in September.
Meanwhile, in virus update, Swiss Health Minister Alain Berset described the coronavirus situation as “encouraging” but “fragile”. He warned of the possible increased burden on hospitals and intensive care units, especially with the upcoming October holidays and the cold season approaching.
Market Analysis
Swiss Market Ends On Firm Note Again
2021-10-14 17:32:31
