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Swiss Market Ends On Firm Note After Choppy Ride
(RTTNews) - The Switzerland stock market ended on a firm note on Thursday after a choppy session, with investors largely making cautious moves amid persisting concerns about inflation and rising interest rates.
After a weak start, the market emerged into positive territory around mid morning, but tumbled into the red by mid afternoon before recovering to close on a firm note.
The benchmark SMI ended with a gain of 75.25 points or 0.68% at 11,134.74, the day's high. The index dropped to a low of 11,002.17 in early trades.
Partners Group climbed nearly 3%. Geberit, SGS and Alcon gained 2.58%, 2.51% and 2.33%, respectively. Sika, ABB, Nestle and UBS Group gained 1.5 to 1.8%.
Givaudan drifted down 1.6%, Swisscom shed 1.45% and Zurich Insurance Group ended lower by 1%.
In the Mid Price Index, VAT Group surged 5%, Bachem Holding gained 4.2% and Sonova ended 3.2% up. Tecan Group and Straumann Holding gained about 3% and 2.75%, respectively.
SIG Combibloc, Lindt & Spruengli N, Lindt & Spruengli Part and Julius Baer advanced 1.5 to 2%.
Cembra Money Bank plunged 7.3%. Temenos Group drifted down 3%, Dufry closed lower by 2.1% and Zur Rose ended 1.7% down. Schindler Holding and Schindler Ps also ended notably lower.
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