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Swiss Market Ends On Firm Note For 2nd Straight Day
(RTTNews) - The Switzerland stock market ended on a strong note on Friday amid optimism about the outlook for Chinese economy after encouraging retail sales and industrial sales data, and expectations that most central banks are nearing the end of rate-hiking cycle.
The benchmark SMI ended with a gain of 99.40 points or 0.9% at 11,197.72, after scaling a low of 11,182.55 and a high of 11,244.12 intraday.
Richemont climbed 2.87%. Logitech and Sika both ended higher by about 2.1%. Lonza Group, Geberit and Alcon gained 1.66%, 1.42% and 1.37%, respectively.
Novartis, Sonova, Holcim, Swiss Re, Givaudan and ABB ended higher by 0.8 to 1.2%.
UBS Group, down 0.26%, was the only loser in the SMI index.
In the Mid Price Index, SIG Combibloc gained 2.37%. Swatch Group, Galenica Sante, Adecco, Clariant, Julius Baer and Ems Chemie Holding ended higher by 1 to 1.6%.
Meyer Burger Tech ended 3.4% down. VAT Group closed lower by 1.85%. Barry Callebaut, Temenos Group and DocMorris lost 1 to 1.1%.
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