The Switzerland stock market, which stayed firm after a positive start Friday morning, ended the session flat as a few frontline stocks drifted down in the closing minutes.
The benchmark SMI, which climbed to 11,419.62 at the start, ended the day at 11,308.98, down less than a point from the previous close. The index touched a low of 11,286.52.
Richemont plunged nearly 13% the company said discussions about its “Luxury New Retail” partnership are “taking time”.
Holcim ended 0.6% down, while Zurich Insurance Group, Logitech and Nestle closed with modest losses.
Lonza Group rallied nearly 3%. SGS gained 1.85%, while Novartis, Alcon, UBS Group, Roche Holding, Credit Suisse, Givaudan, Sika, Swisscom, Partners Group and ABB gained 0.7 to 1.2%.
In the Mid Price Index, Dufry, Tecan Group, Barry Callebaut, Zur Rose, Ems Chemie Holding and Straumann Holding gained 2 to 2.8%. Kuehne & Nagel, Sonova, Clariant, Schindler Ps, Swiss Prime Site and PSP Swiss Property also ended sharply higher.
Swatch Group ended lower by about 3.2%. Cembra Money Bank shed about 2% and VAT Group shed 0.5%.
Data from the Federal Statistical Office showed Switzerland’s industrial production rose in the first quarter of 2022, rising 7.9% year-on-year. In March, industrial production rose 4.2%, after a 15.4% growth in February.
Secondary sector production rose 6.9% yearly in the first quarter, while construction output declined 0.5%, the data showed.
Industrial turnover increased 11.1% yearly in the first quarter and construction turnover grew 3.3%. Industrial turnover gained 8.5% year-on-year in March, after a 17.2% rise in the previous month.
Market Analysis
Swiss Market Ends Flat
2022-05-20 17:15:09
