Swiss Market Ends On Firm Note

(RTTNews) - The Switzerland stock market ended on a firm note on Friday thanks to brisk buying at several frontline counters.

The benchmark SMI ended with a gain of 88.53 points or 0.8% at 11,110.19, slightly off the day's high of 11,114.37.

Partners Group shares soared 12%. Partners Group said client capital commitments totaled $8 billion in the first half of 2023, down from $13 billion in the year-ago period, and that it had $141.7 billion under management, improving from $135.4 billion at the end of last year.

In a statement issued on Thursday, the company CEO David Layton reiterated guidance that there is potential to increase assets under management by 10 to 15% annually.

Lonza Group climbed about 2.5%. Sika, Geberit, Roche Holding, Sonova, Richemont and Logitech gained 1 to 1.7%.

Swiss Re and Swiss Life Holding ended modestly lower. UBS Group and Zurich Insurance Group edged down marginally.

In the Mid Price Index, Meyer Burger Tech rallied 5.1%. Straumann Holding, Belimo Holding, Lindt & Spruengli, Swiss Prime Site, Bachem Holding, DocMorris and SIG Combibloc gained 1 to 2%.

Swatch Group ended lower by about 2.4%, Barry Callebaut lost 1.67% and Clariant declined 1.1%.

Data from the Federal Statistical Office showed Switzerland's producer and import prices declined for the second straight month in June, falling by 0.6% year-on-year, faster than the 0.3% fall in the previous month. The expected decrease was 1.2%.

The producer price index climbed 1.7% annually in June, while import prices registered a decrease of 5%. On a monthly basis, producer and import prices remained flat in June versus a 0.3% drop in May.