Swiss Market Ends On Firm Note
(RTTNews) - The Switzerland market ended on a firm note on Friday with stocks from across several sectors gaining ground on sustained buying support. The mood remained positive right through the day's session, amid some expectations about an end to the Ukraine war.
Investors awaited the outcome of the meeting of the Presidents of the U.S. and Russia, and continued to assess Trump administration's tariff moves and their impact on global economic growth.
It is hoped that the Trump-Putin summit, which takes place in Alaska later in the day, might help end the war in Ukraine.
The benchmark SMI, which moved in a tight range between 12,052.52 and 12,095.09, closed up 72.72 points or 0.61% at 12,074.33.
Roche Holding climbed 2.36%. Alcon gained 1.58%, while Julius Baer and Sandoz Group both gained about 1.2%.
Novartis climbed nearly 1%. Swiss Re, Lonza Group, UBS Group, Straumann Holding, Amrize, Nestle and Sonova posted modest gains.
VAT Group ended nearly 3% down, and Schindler Ps closed lower by 1.44%. SGS lost nearly 1%, while Swisscom, Logitech International, Kuehne + Nagel, Richemont and ABB drifted down 0.4 to 0.7%.
In economic news, data from State Secretariat for Economic Affairs showed Switzerland's economy grew by 0.1% quarter-on-quarter in the second quarter of 2025, slowing from an upwardly revised 0.8% expansion in the previous quarter, according to a flash estimate. This marked the weakest growth since the first quarter of 2024.
Euro Higher Against Majors
TSX Down Marginally In Lackluster Trade
European Stocks Close Mixed After Cautious Session
U.S. Business Inventories Rise In Line With Estimates In June
U.S. Consumer Sentiment Unexpectedly Deteriorates In August
U.S. Industrial Production Pulls Back Slightly In July
New York Manufacturing Index Unexpectedly Climbs To Nine-Month High In August
