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Swiss Market Ends Modestly Higher
(RTTNews) - The Switzerland stock market ended modestly higher on Monday after staying positive right through the day's session.
Investors reacted to some corporate news in addition to looking ahead to central bank meetings. The U.S. Federal Reserve, the European Central Bank, People's Bank of China and the Bank of Japan, are all scheduled to announce their monetary policies this week.
The benchmark SMI ended with a gain of 46.83 points or 0.42% at 11,301.25, after moving in a tight range between 11,296.43 and 11,343.18.
Partners Group rallied more than 3%. Sika and Richemont both surged about 2.25%. Holcim climbed 1.34%, while Credit Suisse, Givaudan, ABB, Geberit and Logitech gained 0.75 to 1.2%.
UBS Group gained 0.82% after saying it has completed the acquisition of domestic rival Credit Suisse Group AG. Shares of the latter gained 1.1%.
Novartis ended higher by 0.75% after it agreed to acquire Seattle-based biotech firm Chinook Therapeutics for up to $3.5 billion.
Swisscom tumbled 1.7%. Roche Holding declined 0.7%, while Alcon, Lonza Group and Zurich Insurance Group ended marginally down.
In the Swiss Mid Price Index, Tecan Group surged 4.3% and Belimo Holding and DocMorris both ended higher by 4.1%.
Georg Fischer and AMS both gained nearly 3.5%. VAT Group, Straumann Holding, Ems Chemie Holding, SIG Combibloc, Clariant, Bachem Holding and Schindler Holding ended higher by 1.8 to 2.75%.
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