Swiss Market Ends On Positive Note
(RTTNews) - Despite a couple of setbacks during the day's session, the Switzerland market managed to close modestly higher on Friday thanks to a few frontline stocks finding good support towards the closing minutes.
Despite somewhat easing concerns about tariffs, the mood in the market remained cautious for much of the day's session.
The benchmark SMI closed with a gain of 21.04 points or 0.18% at 11,982.91. The index, which climbed to 12,030.81 around late morning, touched a low of 11,958.26 subsequently.
Sonova climbed 2.13%. Julius Baer and Sandoz Group gained 1.9% and 1.85%, respectively. Adecco, Holcim, Nestle and Swiss Life Holding closed up 1.1 to 1.5%.
Straumann Holding, Lindt & Spruengli, Swiss Re, Alcon, Zurich Insurance Group, Roche Holding and Givaudan posted moderate gains.
Schindler PS ended lower by about 1.1% despite the company booking a 7.5% year-over-year rise in first-half net profit to 531 million francs. However, revenue slipped to 5.49 billion francs from 5.59 billion francs, with currency headwinds having a negative impact of 186 million francs. For the full year, the group expects revenue growth in the low single digits in local currencies.
Richemont ended down 1.77%. Novartis, Schindler PS, VAT Group, Kuehne + Nagel, Sika, Amrize and Logitech International lost 0.5 to 1.1%.
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