The Switzerland stock market ended on a bright note on Tuesday after holding firm right through the day’s session, amid continued optimism about economic growth as the country looks set to further ease coronavirus restrictions.
The benchmark SMI ended with a gain of 80.16 points or 0.71% at 11,305.74, after hitting a fresh record high of 11,332.09.
Richemont gained 3.25% on strong results. Richemont said its fourth quarter sales increased by 30%. Profit for the year increased by 38% to 1,289 million euros, while earnings per share increased by 39% to 2.296 euros on a diluted basis, the company said.
Swatch Group ended stronger by 3.15%. Geberit, Partners Group, Sika, SGS and Givaudan gained 1.2 to 1.5%.
Lonza Group, Nestle, UBS Group and Credit Suisse gained 0.85 to 1%. LafargeHolcim and Roche Holding posted modest gains.
In the Swiss Mid Price Index, Dufry rallied 4.3%. VAT Group gained nearly 3%, Logitech climbed 2.8%, Georg Fischer and SIG Combibloc both gained about 2%, and Tecan Group gained nearly 1.5%.
Temenos Group, Straumann Holding, PSP Swiss Property, Ems Chemie Holding, Adecco and Swiss Prime Site also ended notably higher.
The Swiss government is scheduled to decide on Wednesday about easing restrictions further from the end of this month. Earlier this month, Swiss ministers said that Swiss will likely emerge from a “protection phase” and enter a “stabilisation phase” by June end.
Market Analysis
Swiss Market Ends On Firm Note
2021-05-25 18:43:29
