The Switzerland stock market closed on an upbeat note on Friday, in line with markets across the globe amid slightly easing concerns about monetary tightening after data showed an increase in U.S. unemployment rate.
The benchmark SMI ended with a gain of 228.27 points or 2.14% at 10,891.71, slightly off the day’s high.
All the components of the SMI index closed in positive territory.
Credit Suisse rallied 6.13% after reports that the embattled Swiss bank is looking at cutting around 5,000 jobs as part of a cost-reduction drive.
Holcim climbed 5.4% and Sika gained 5%. UBS Group, Partners Group, Geberit, Swiss Re, ABB, Swiss Life Holding and Lonza Group gained 3 to 4.2%.
SGS, Alcon, Zurich Insurance Group, Givaudan and Logitech advanced 2.5 to 2.9%.
Among the stocks in the Mid Price Index, Zur Rose rallied more than 9%. Temenos Group surged nearly 7%.
Straumann Holding, Georg Fischer, Clariant, Julius Baer, VAT Group, AMS, Dufry, Adecco and Bachem Holding gained 3 to 5%.
Market Analysis
Swiss Market Ends On Upbeat Note
2022-09-02 17:19:28
