Swiss Market Ends On Strong Note
(RTTNews) - Swiss stocks closed on a strong note on Thursday, tracking positive cues from other markets across Europe, amid rising prospects of another rate cut by the Federal Reserve, and easing political tensions in France.
The benchmark SMI started off on a slightly weak note, but recovered swiftly ad then stayed firm right through the day's trading session to settle with a gain of 172.50 points or 1.38% at 12,702.08.
Nestle soared 9.3% after the food and beverage giant unveiled plans to cut 16000 jobs globally over two years, aiming to reduce costs and boost sales.
Givaudan gained 2.82%, and Lonza Group climbed by about 2.1%. Geberit, Kuehne + Nagel and Swatch Group gained 1.77%, 1.69% and 1.31%, respectively.
Alcon, Schindler Ps, Sika, Straumann Holding, Roche Holding and Julius Baer gained 0.4 to 0.8%.
VAT Group closed down by 3.4%. Zurich Insurance ended lower by about 3%, while Swiss Re, Galderma Group and Swiss Life Holding lost 1.6 to 2%.
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