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Swiss Market Ends On Firm Note
(RTTNews) - The Switzerland stock market ended on a firm note on Friday after staying positive right through the day's session as investors shrugged off concerns about growth and focused on earnings.
The benchmark SMI ended with a gain of 75.25 points or 0.66% at 11,437.14, after moving in a tight range between 11,378.82 and 11,444.00.
Logitech rallied 3.1%. Partners Group, Geberit, Sika and Alcon gained 1.8 to 2.5%. Zurich Insurance Group and Roche Holding both surged about 1.5%, while Swiss Re, Sonova and Credit Suisse ended nearly 1% up.
Richemont drifted down 1.5%, while ABB, Novartis and Swisscom posted modest losses.
In the Mid Price Index, Bachem Holding, Ems Chemie Holding, AMS and Adecco gained 2.3 to 2.75%.
Clariant, VAT Group, Barry Callebaut, Lindt & Spruengli, Straumann Holding and Temenos Group also ended notably higher.
In economic news, retail sales in Switzerland dropped 1.9% year-on-year in March 2023, slipping further from a revised 0.5% fall in the previous month, data from Swiss Federal Statistical Office showed. On a monthly basis, retail trade went down 0.1%, following a downwardly revised 0.5% growth in February.
The Swiss Economic Institute (KOF) said Switzerland's KOF economic barometer fell to 96.4 in April of 2023, from an upwardly revised 99.2 in the previous month.
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