Swiss Market Pares Gains, Ends Just Modestly Higher
(RTTNews) - After opening marginally up and moving further higher Monday morning, the Switzerland stock market stayed firm around mid afternoon but gradually pared gains as the session progressed.
However, with select stocks holding firm, the market managed to close modestly higher.
The mood was positive amid rising hopes the Federal Reserve will be less aggressive with its policy stance at the upcoming meeting later this month.
The benchmark SMI ended with a gain of 28.09 points or 0.26% at 11,010.18, more than 100 points down from the day's high of 11,114.78.
Richemont climbed more than 4% and Credit Suisse gained 3.32%, while UBS Group, Logitech and Partners Group advanced 2.5 to 2.9%.
Sika, ABB, Swiss Life Holding, Givaudan and Geberit ended higher by 1.2 to 1.8%.
Lonza Group drifted down 1.1%, while Roche Holding, Alcon and Novartis shed 0.6 to 0.86%.
In the Mid Price Index, Ems Chemie Holding, Julius Baer and Dufry gained 2.8 to 3.2%. Swatch Group, Georg Fischer, AMS, Kuehne & Nagel, Adecco and Bachem Holding climbed 2 to 2.5%.
Zur Rose, PSP Swiss Property and Swiss Prime Site moved up 1.75%, 1.37% and 1.34%, respectively.
Cembra Money Bank shed 2.8% and Straumann Holding ended lower by about 1.6%.
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