The Switzerland market shrugged off a mid-session setback and closed on a firm note on Monday with select counters seeing some brisk buying in afternoon trades.
Investors largely stayed cautious, looking ahead to Swiss inflation and retail sales data as well as reports showing readings of KOF Leading Indicators and the Economic Sentiment Index, all due during the course of this week.
The benchmark SMI closed up 53.97 points or 0.44% at 12,237.97, recovering well from a low of 12,155.96.
Sonova rallied nearly 7.5% after the company said it is set to resume supplies to Costco. The product to be sold at Costco, a prescription hearing aid by the name of Sennheiser Sonite R which was specifically designed for the retailer, will initially be available in 107 locations in the United States, with a gradual expansion expected in the future, according to a Reuters report.
SIG Group and Holcim climbed 3.58% and 3.44%, respectively. Logitech International gained 2.79%.
Sika, Sandoz Group, SGS, Noartis and Julius Baer ended higher by 1.1 to 1.7%. Swiss Re, Zurich Insurance, Geberit, ABB, Swatch Group, UBS Group, Partners Group, Swiss Life Holding and Straumann Holding gained 0.5 to 1%.
Roche Holding and Lonza Group ended lower by 1.21% and 1.15%, respectively.
Market Analysis
Swiss Market Recovers From Mid-session Setback, Ends On Firm Note
2024-10-28 18:00:22
