Swiss Market Ends On Firm Note
(RTTNews) - After posting losses in the previous two sessions, Swiss stocks moved higher on Friday with investors reacting to earnings updates. Data showing an increase in Swiss non-farm payroll employment, and optimism about interest rate cuts in the near future helped underpin sentiment.
Data from Swiss Federal Statistical Office showed Switzerland's non-farm payrolls rose 1.7% year-on-year to a record 5.488 million in the fourth quarter of 2023, following a 1.9% increase in the third quarter.
The benchmark SMI ended with a gain of 110.59 points or 0.97% at 11,496.76, slightly off the day's high of 11,505.72.
Swiss Re climbed nearly 2.5%. Geberit and Roche Holding gained 1.6% and 1.55%, respectively. Richemont, Sika, Nestle, Novartis and Givaudan ended higher by 1 to 1.4%.
Lonza Group, Partners Group, Zurich Insurance Group, Logitech International and Sonova gained 0.7 to 1%.
ABB ended lower by 0.62%. Alcon and Kuehne & Nagel ended marginally down.
In the Mid Price Index, Georg Fischer soared 8.27%. Flughafen Zurich ended nearly 2% up. ams OSRAM AG, Schindler Holding and Baloise Holding gained 1.5 to 1.75%.
Galenica Sante, Schindler Ps, Helvetia, Clariant, Lindt & Spruengli and Temenos Group advanced 0.7 to 1.2%.
Meyer Burger Tech tanked 9.7%. Swatch Group, Julius Baer and VAT Group ended lower by 1 to 1.2%.
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