Swiss Market Closes Modestly Higher

The Switzerland stock market recovered after a weak start and stayed firm right through the session on Monday to eventually close modestly higher.

The mood was cautious with investors looking ahead to the Federal Reserve’s policy announcement, due on Wednesday.

The benchmark SMI ended with a gain of 33.23 points or 0.3% at 11,129.35. The index, which dropped to 11,029.69 at the start, climbed to a high of 11,156.32 around noon.

Richemont climbed 1.87%, UBS Group gained 1.44% and Swiss Re ended 1.37% up. Swisscom gained nearly 1%, while Roche Holding, Zurich Insurance Group, Credit Suisse and Swiss Life Holding advanced 0.75 to 0.85%.

Logitech drifted down 2.4%, Lonza Group ended 2.18% down, Givaudan declined 1.65% and SGS shed about 1.55%. Sika, Geberit and Partners Group lost 0.8 to 1%.

In the Swiss Mid Price Index, Julius Baer rallied 2.18%, Galenica Sante gained 1.7%, Barry Callebaut ended nearly 1.5% up, and Cembra Money Bank gained about 1.25%.

Zur Rose, Lindt & Spruengli N, Lindt & Spruengli Part, Baloise Holding and Helvetia gained 0.75 to 1%.

Flughafen Zurich, Temenos Group, Bachem Holding and Kuehne & Nagel lost 2.5 to 3.3%. Straumann Holding, Sonova and Tecan Group ended lower by 2%, 1.8% and 1.4%, respectively.

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