The Switzerland stock market ended on a strong note on Thursday, after staying firm right through the day’s session, thanks to sustained buying at several counters.
Data showing a drop in Swiss unemployment rate in the month of March lifted sentiment.
The benchmark SMI ended with a gain of 114.67 points or 1.03% at 11,230.07.
Swiss Life Holding climbed 4.13%. Roche Holding gained about 2.7%, while Alcon, Lonza Group, Zurich Insurance Group and Givaudan gained 1.75 to 2.1%.
Sonova surged 1.52%, while Swiss Re, Swisscom, Logitech and UBS Group gained 1 to 1.25%.
Richemont ended nearly 2.5% down, and Sika drifted down 1.7%.
In the Mid Price Index, Helvetia rallied 3.4%. Bachem Holding, PSP Swiss Property, Julius Baer and Baloise Holding gained 2 to 2.6%.
Swiss Prime Site, Temenos Group, SIG Combibloc, Straumann Holding and Flughafen Zurich also posted strong gains.
Schindler Ps, Georg Fischer, Schindler Holding, VAT Group, Zur Rose and Swatch Group lost 1 to 2%.
In economic news, Switzerland’s unemployment rate decreased for the second straight month in March, in line with expectations, the State Secretariat for Economic Affairs, or SECO, said on Thursday.
The unadjusted unemployment rate dropped to a 4-month low of 2% in March from 2.1% in February. In the corresponding month last year, the jobless rate was 2.4%.
The youth unemployment rate, which is applied to the 15-24 age group, dropped to 1.8% in March from 2% percent a month ago.
Data also showed that the seasonally adjusted jobless rate came in at 1.9% in March, the same as in the prior month.
Market Analysis
Swiss Market Ends On Strong Note
2023-04-06 17:25:28
