The Switzerland stock market closed on a firm note on Thursday despite a weak start and a subsequent long sluggish spell, as select counters saw some brisk buying in late afternoon trade.
The benchmark SMI, which edged down to 12,064.21 in early trades, ended the session with a gain of 65.65 points or 0.54% at 12,153.10, the day’s high.
Nestle climbed 1.63%. Sika gained nearly 1%, while Richemont, Givaudan and Swiss Re gained 0.8 to 0.85%.
Geberit, Novartis, Roche Holding, Logitech, Lonza Group and Holcim posted modest gains.
Swisscom shares plunged 7.4% after the company trimmed its 2021 sales outlook, citing a review of its fibre-optic partnership with Salt as well as developments in exchange rates.
Swisscom said it expects net revenue of around 11.2 billion Swiss francs for the year, down from its previous forecast of around 11.3 billion
Credit Suisse declined by about 1.7%, while ABB and UBS Group ended lower by 0.6% and 0.3%, respectively.
Among the stocks in the Swiss Mid Price Index, Zur Rose soared 10.3%. Clariant, Temenos Group, Straumann Holding, SIG Combibloc and AMS gained 4 to 5%, and AMS gained 3.52%.
Sonova, BB Biotech, Vifor Pharma, Swatch Group and Tecan Group also closed with strong gains.
Ems Chemie Holding, OC Oerlikon Corp and Julius Baer lost 3.6%, 2.2% and 1.3%, respectively.
In vaccination news, the Swiss medicines regulator, Swissmedic, announced recently that it had approved third shots or so-called boosters of the Pfizer/BioNtech and Moderna vaccines for high-risk individuals and people with weakened immune systems.
Meanwhile, Switzerland reported 1785 new cases over the last 24 hours, much higher than the 7-day average of 1352 cases.
Market Analysis
Swiss Market Ends On Firm Note
2021-10-28 17:47:42
