The Switzerland stock market ended on a bright note on Friday, in line with the trend seen across Europe, as investors shrugged off concerns about inflation and picked up shares amid optimism about growth.
The benchmark SMI ended up by 86.87 points or 0.79% at 11,120.77, slightly off the day’s high of 11,129.87.
ABB ended with a gain of about 2.65% and Alcon advanced 1.6%, while Geberit, Swiss Re, Partners Group, Lonza Group, Richemont, Credit Suisse, Sika, Givaudan, Swiss Life Holding and Roche Holding gained 0.8 to 1.2%.
Among the stocks in the Swiss Mid Price Index, Julius Baer, Temenos Group, Logitech and Cembra Money Bank gained 2.8 to 3.5%. VAT Group, Kuehne & Nagel, OC Oerlikon Corp, Tecan Group, Adecco and Vifor Pharma ended higher by 1.6 to 2.5%.
In coronavirus-related news, reports say that the Swiss government will decide on May 26 whether to ease restrictions further at the end of the month.
If conditions permit, Switzerland would then emerge from a “protection phase” and enter a “stabilisation phase”, ministers said earlier this week.
Meanwhile, vaccination roll-out continues to accelerate with over 62,000 jabs a day, up 21% compared with the previous week.
Swiss Market Closes On Firm Note
2021-05-14 18:26:06
