The Switzerland market ended on a firm note on Monday, in line with markets across Europe, as investors assessed the developments in the U.S. political front, and awaited fresh economic data, and quarterly earnings updates.
US President Joe Biden has stepped out of the race for the White House over the weekend, ending his bid for reelection. He has endorsed Vice President Kamala Harris to be the Democratic Party’s candidate.
The benchmark SMI ended with a strong gain of 123.30 points or 1.01% at 12,296.74. The index touched a low of 12,199.04 and a high of 12,334.06 in the session.
SGS climbed about 2.7%. Kuehne + Nagel, Schindler Ps, SIG Group, Novartis and Logitech International gained 2 to 2.5%.
Lindt & Spruengli ended nearly 2% up. Givaudan, Julius Baer, Sonova, Swiss Life Holding, Geberit, Lonza Group and Holcim gained 1 to 1.5%.
Richemont, Sandoz Group, UBS Group, Nestle, Sika, Swatch Group, Partners Group, Roche GS and ABB posted moderate gains.
Belimo Holding soared nearly 17% after raising its sales guidance.
Meyer Burger Tech rallied 7.7%. Georg Fischer gained about 3.6%, while Helvetia climbed 2%. Tecan Group, Sandoz, Galanica Sante, BKW and Ems Chemie Holding also posted notable gains.
Market Analysis
Swiss Market Ends On Firm Note
2024-07-22 17:31:26
