Swiss Market Ends Marginally Up
(RTTNews) - After a flat start and a subsequent weak spell that lasted till about a couple of hours past noon on Tuesday, Swiss stocks found some support and finally ended the day's session on a slightly positive note.
The benchmark SMI ended with a gain of 18.90 points or 0.15% at 12,893.98, after moving between 12,825.29 and 12,909.97.
ABB climbed 2.01%. Schindler Ps, UBS Group, Swiss Re and Adecco closed higher by 1.1 to 1.4%.
Julius Baer, Swisscom, SIG Group, Holcim, Novartis, Kuehne + Nagel, Zurich Insurance Group and VAT Group gained 0.3 to 0.85%.
Basilea Pharmaceutica jumped more than 8% on strong earnings. The company said its full-year 2024 net profit surged to 77.6 million francs from 10.5 million francs a year before. Total revenue also soared 32% over the period to 208.5 million francs, boosted by strong in-market sales of its antifungal drug Cresemba.
Lonza Group ended down 2.73%. Sandoz Group closed 1.61% down, while Richemont and Givaudan ended lower by 1.34% and 1.19%, respectively. Lindt & Spruengli settled lower by about 0.8%.
Provisional data from the Federal Statistical Office showed Switzerland's industrial production expanded further in the final quarter of 2024, though at a slower pace compared to previous quarters.
Industrial production climbed 2.2% year-over-year in the fourth quarter, following a 3.1% growth in the third quarter.
The output produced in the manufacturing sector was 2% higher compared to last year versus a 1.7% rise in the previous quarter.
During December, industrial production grew 4.1% annually versus a 0.9% increase in November.
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