The Switzerland stock market ended on a firm note on Friday, tracking positive cues from other European markets and Wall Street. The market also benefited from some bargain hunting after the sharp setback in the previous session.
However, gains were just modest as the market moved in a narrow range with investors looking for more positive signal.
The benchmark SMI ended up by 65.15 points or 0.55% at 11,989.81, after scaling a low of 11,935.49 and a high of 12,005.45 intraday.
The index ended with a loss of 160.85 points or 1.33% at 11,924.66 on Thursday.
Swatch Group climbed 2.75% and ABB gained 2.1%, while Swiss Life Holding, Richemont, UBS Group, Zurich Insurance Group, Swiss Re and Holcim moved up 1.25 to 1.6%.
Novartis ended nearly 1% up, while Credit Suisse, Swisscom, Geberit, Partners Group and Sika gained 0.7 to 0.85%, while Lonza Group, Roche Holding and Nestle closed modestly lower.
In the Mid Price Index, OC Oerlikon Corp, Helvetia, Adecco and Clariant gained 1.8 to 2.1%. Georg Fischer, PSP Swiss Property, Vifor Pharma and Lindt & Spruengli also closed notably higher.
Sonova plunged more than 7%. AMS ended nearly 1% down.
Among the other major markets in Europe, the U.K., Germany and France all ended sharply higher. The U.K.’s FTSE 100 climbed 1.3%, Germany’s DAX surged up 1.73% and France’s CAC jumped 2.07%. The pan European Stoxx 600 gained 1.37%.
Market Analysis
Swiss Market Ends On Firm Note
2021-07-09 18:25:32
