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Swiss Market Ends On Firm Note
(RTTNews) - After a flat start and a subsequent drop, Swiss stocks recovered and kept moving higher on Thursday to eventually end the day's session on a firm note.
Concerns about U.S. government's trade policy and the likely impact of trade war on global economic growth weighed on sentiment early on in the session.
The benchmark SMI, which drifted down to 11,751.82 around mid morning, rallied to 11,940.37 before settling at 11,917.59 with a gain of 108.88 points or 0.92%.
Sonova climbed 2.85% and VAT Group gained 2.57%. Sika advanced 2.3%, while Kuehne + Nagel and Logitech International, both gained about 2.1%.
SGS gained more than 1.5% after the company said its first-quarter sales grew 6.6% to 1.68 billion Swiss francs from last year's 1.58 billion francs. Organic sales growth was 5.6%, supported by all regions. Further, the company confirmed fiscal 2025 outlook, despite tariffs and forex.
Holcim, Givaudan, Sandoz Group, Roche Holding, Geberit, Partners Group, Straumann Holding, Novartis, UBS Group and Richemont climbed 1 to 1.8%.
Nestle ended flat. The company reported that first-quarter sales increased by 2.3% to 22.6 billion Swiss francs. Organic growth was 2.8%, for the quarter. By category, confectionery and coffee were the largest organic growth contributors. The Group said this growth was pricing-led, with double-digit increases in some markets.
Adecco closed down 1.36%, while Alcon and Swiss Re ended lower by about 0.4% and 0.25%, respectively.
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