The Switzerland stock market ended modestly higher on Tuesday despite spending much of the day’s session in negative territory in somewhat lackluster trade.
The mood in the market was largely cautious due to a lack of any significantly positive news.
The benchmark SMI, which struggled to move above the flat line till more than a couple of hours past noon, ended the session with a modest gain of 24.84 points or 0.23% at 10,803.67. It touched a low of 10,735.16.
Alcon, Sika and LafargeHolcim ended lower by 1 to 1.2%. SGS, Swatch Group and Credit Suisse slid 0.4 to 0.7%, while Novartis and Swiss Life Holding ended modetly lower.
Shares of chemicals and biotechnology company Lonza Group climbed 3.1%. Lonza AG is set to sell its Lonza Specialty Ingredients division to private equity firms Bain Capital and Cinven for CHF 4.2 billion ($4.7 billion), completing a planned pivot to focus on its Lonza Pharma, Biotech & Nutrition business.
Roche Holding ended 1.2% up and Richemont gained nearly 1%. Partners Group and Zurich Insurance Group ended with modest losses.
In the midcap section, AMS ended more than 7% down. Flughafen Zurich slid 2.2%. Gerorge Fischer, Vifor Pharma, Temenos Group, Dufry, Adecco and Julius Baer lost 0.7 to 1.2%.
Among the gainers, Sonova rallied 4.7%, while BB Biotech, Logitech, SIG Combibloc and Kuehne & Nagel moved up 1.2 to 1.6%.
Swiss Market Closes Modestly Higher
2021-02-09 19:17:23
