Swiss Market Ends Modestly Higher
(RTTNews) - After swinging between gains and losses till around mid afternoon, Swiss stocks found some support on Monday to end the day's session modestly higher.
The benchmark SMI ended with a gain of 28.87 points or 0.24% at 11,960.57, after moving in a very narrow range.
Kuehne & Nagel rallied 2.07% and Sandoz Group climbed 1.53%. Roche Holdings, ABB and UBS Group gained 0.9 to 1.2%.
Straumann Holding, Givaudan, Swiss Life Insurance, Zurich Insurance, Swatch Group and SGS gained 0.5 to 0.8%.
Meyer Burger Tech gained nearly 10%. ams OSRAM AG climbed 3.3%, while Avolta, Galenica Sante, Baloise Holding, Temenos Group, Flughafen Zurich and BKW gained 1 to 2%.
Temenos Group shares gained 1.1% on reports activist investor Petrus Advisers raised its stake in the Swiss banking software company to over 5% from 3.4%.
Julius Baer drifted down 1.5%. The lender is reported to have held preliminary talks with EFG International for the potential acquisition of its Swiss private banking peer in a deal that could result in a combined entity with over 500 billion francs in assets under management. Shares of EFG International ended modestly higher.
Logitech International, Schindler Ps, Sonova and VAT Group lost 0.8 to 1.1%.
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