The Switzerland market ended on a strong note on Thursday, shrugging off a weak start and a subsequent sluggish spell, as investors picked up stocks from across various sectors.
The benchmark SMI, which dropped to 10,994.16 in early trades, ended the session with a gain of 109.50 points or 0.99% at 11,165.58, near the day’s high of 11,168.83.
Nestle rallied more than 2%. Holcim gained 1.75%, while Novartis, Givaudan, Swisscom, Sonova, Geberit and Roche Holding gained 1 to 1.8%.
Sika and Richemont both ended nearly 1% up. Zurich Insurance Group, Swiss Re and Alcon also ended on a firm note.
Credit Suisse tumbled nearly 7%. UBS Group ended lower by about 0.6%.
In the Mid Price Index, Barry Callebaut, Swatch Group, Belimo Holding and Straumann Holding gained 1.65 to 2.15%.
Ems Chemie Holding, Galenica Sante and Lindt & Spruengli also ended with strong gains.
Zur Rose and VAT Group lost 2.1% and 1.9% respectively. Clariant ended 1.4% down after it forecast annual sales to slightly decline in 2023.
Market Analysis
Swiss Market Ends On Strong Note
2023-03-02 18:36:30
