Swiss Market Ends Modestly Higher
(RTTNews) - After a flat start and a subsequent modest upmove, the Switzerland market turned subdued and fell into negative territory by noon on Friday, but recovered gradually to finally end the day's session on a positive note.
The benchmark SMI closed up 48.55 points or 0.39% at 12,366.17, after scaling a low of 12,288.91 and a high of 12,394.93 intraday.
UBS Group shares climbed 3.8%. Lonza Group gained 2.1% and Kuehne + Nagel closed 1.5% up. Sonova, Swiss Re, Lindt & Spruengli, Logitech International, Julius Baer, Novartis and Sandoz Group gained 0.4 to 1%.
Adecco ended down 1.07%. Givaudan, Swatch Group and Swisscom lost 0.7 to 0.9%. Nestle, Geberit and SIG Group closed modestly lower.
According to a report from Swiss National Bank, foreign exchange reserves in Switzerland increased to CHF 703,568 million in May from CHF 702,954 million in April.
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