Swiss Market Ends On Strong Note

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Stocktwits
Swiss Market Ends On Strong Note

(RTTNews) - After opening marginally up, the Switzerland market gained in strength as the day progressed on Monday, thanks to sustained buying at several counters, amid optimism about more monetary easing by central banks.

The Swiss National Bank's monetary policy meeting is scheduled to take place on Thursday (March 20). The Federal Reserve, the Bank of Japan and the Bank of England are also scheduled to announce their rate decisions this week.

The benchmark SMI ended the day's session with a strong gain of 141.31 points or 1.09% at 13,058.12, slightly off the day's high of 13,064.98.

Novartis, VAT Group and Lonza Group gained 2.1 to 2.34%. UBS Group advanced nearly 2%.

Roche Holding gained 1.73% and Sandos Group climbed 1.59%, while SGS, Adecco, Swiss Life Holding and Nestle closed higher by about 1.2%.

Lindt & Spruengli, ABB, Swiss Re, Alcon, Holcim, Straumann Holding. Zurich Insurance, Kuehne + Nagel and Sonova also ended on firm note.

Richemont ended down 1.65%. Swatch Group lost nearly 1%, while Geberit ended 0.65% down. Logitech International, Sika and Julius Baer closed modestly lower.

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