After a flat start, Swiss stocks climbed higher Thursday Morning and stayed firm till about a couple of hours past noon, but gradually shed their gains thereafter to eventually ended the session with just a marginal gain.
Easing concerns about U.S. interest rates, and hopes of additional stimulus in China helped underpin sentiment.
The benchmark SMI, which climbed to 11,076.17, ended the session at 11,021.66, gaining 2.63 points or 0.02%.
Partners Group gained about 1.5%. Kuehne & Nagel, Sonova, Richemont, Logitech, Roche Holding and Swiss Life Holding ended higher by 0.5 to 1%.
Sika drifted down 2.75%. Geberit ended 1% down, while ABB, Novartis, Givaudan and Lonza Group shed 0.5 to 0.6%.
In the Mid Price Index, Swatch Group rallied nearly 7% and VAT Group climbed 6.13%. Meyer Burger Tech and AMS gained 3.75% and 3.6%, respectively.
Julius Baer, Adecco, Temenos Group, DocMorris and Helvetia also ended notably higher.
Tecan Group,Flughafen Zurich and Barry Callebaut ended lower by 2.1%, 1.7% and 1.5%, respectively.
Market Analysis
Swiss Fails To Hold Gains, Ends Flat
2023-07-13 17:29:26
