Swiss Market Ends On Firm Note
(RTTNews) - The Swiss market briefly slipped into negative territory in early trades on Monday, but held firm after a swift recovery to eventually end the day's session on a positive note.
The benchmark SMI ended with a gain of 51.35 points or 0.45% at 11,547.14. The index touched a low of 11,487.41 and a high of 11,5461.38 in the session.
Lonza Group and Sonova gained 2.05% and 1.94%, respectively. Swiss Life Holding climbed 1.42%. Richemont, Logitech International, ABB, Partners Group, Givaudan, Geberit, Sika and Holcim ended higher by 0.5 to 1%.
Swisscom, the only SMI component to settle lower, ended 0.86% down.
In the Mid Price Index, ams OSRAM AG and Clariant gained 2.88% and 2.85%, respectively. Adecco and Baloise Holding both ended higher by 2%.
Julius Baer, Avolta, BKW, Straumann Holding, Temenos Group and VAT Group advanced 1 to 4.5%.
Meyer Burger Tech ended 10.7% down. PSP Swiss Property drifted down by about 3%, while SGS and SIG Group both shed about 1%.
In economic news, data from the State Secretariat for Economic Affairs (SECO) showed Switzerland's unemployment rate held steady in March, with the unadjusted unemployment rate coming in at 2.4%, the same as in February.
In the corresponding month last year, the jobless rate was 2%.
Data also showed that the seasonally adjusted jobless rate stood at 2.3% in March, up marginally from 2.2% in February.
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