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Swiss Market Ends On Firm Note On Positive Global Cues
(RTTNews) - The Switzerland stock market closed on a firm note on Friday, in line with markets across Europe, as investors indulged in some hectic buying at several counters from across various sectors.
The benchmark SMI ended with a gain of 109.92 points or 1.02% at 10,900.24, after hitting a high of 10,940.52 intraday.
On Thursday, the SMI failed to hold early gains and ended with a loss of 14.84 points or 0.14% at 10,790.32.
Logitech surged 4.15%, Richemont climbed 3.03% and Credit Suisse gained 2.82%.
UBS Group, Lonza Group and SGS advanced 1.6 to 1.8%, while Nestle, Swiss Life Holding and Sika ended higher by about 1.3%.
In the Mid Price Index, AMS rallied nearly 7%. Tecan Group ended almost 4% up. Bachem Holding, VAT Group, Georg Fischer, Straumann Holding, Adecco and Temenos Group gained 2.4 to 3.2%.
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After reporting an unexpected decrease by U.S. producer prices in the previous month, the Labor Department released a report Thursday showing producer prices crept slightly higher in the month of May. The Labor Department said its producer price index for final demand inched up by 0.1 percent after slipping by a revised 0.2 percent in April.
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The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits came in flat in the week ended June 7th.
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After opening on a negative note amid trade tensions and data showing a contraction in the nation's GDP growth in April, U.K. stocks recovered some lost ground on Thursday.
Still, amid uncertainty about China and the U.S. agreeing on a concrete trade deal anytime soon, and lingering concerns about the European Union finalizing a trade deal before the July 8 deadline, the mood in the market remain
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