Swiss Market Ends On Bright Note
(RTTNews) - The Switzerland market closed on a bright note on Monday as stocks shrugged off early weakness and moved higher with buying gathering momentum at several counters past mid afternoon.
The benchmark SMI, which edged down 5o 12,228.98 in early trades, closed with a gain of 129.33 points or 1.05% at 12,416.61.
Givaudan climbed 5.66%. SGS rallied about 4.7% after the company announced that talks with French peer Bureau Veritas for a potential combination have ended without reaching an agreement.
and Nestle gained nearly 4%. Novartis gained 2.17% and Zurich Insurance Group closed nearly 2% up.
Roche Holding gained 1.6% on reporting positive topline results from the second year of its Embark phase 3 trial for Elevidys, a therapy to treat people with Duchenne muscular dystrophy. The Swiss pharma giant's sales for last year are forecast at 60.41 billion Swiss francs ($66.68 billion), according to a consensus of 15 analysts' estimates compiled by Visible Alpha. The company recorded sales of 58.72 billion francs in 2023.
EARNINGS FORECAST: Roche's core earnings per share are expected to come in at 18.59 francs, according to the Visible Alpha consensus. For 2023, the company reported core EPS of 18.57 francs.
As of Monday morning trade in Europe, the stock is up 9.2% since the start of 2025, and up 13% over the last 12 months.
Adecco, Swiss Re, Swiss Life Holding, Kuehne + Nagel and Alcon closed higher by 1.1 to 1.4%.
ABB lost 5.85% and VAT Group closed down 5.27%. Partners Group ended lower by nearly 2% and Lindt & Spruengli lost 1.25%.
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