Swiss Market Ends On Bright Note As Stocks Rally On Late Buying
(RTTNews) - The Switzerland market, which faltered after a marginal upmove at the start and stayed sluggish till well past noon on Monday, climbed higher in late afternoon trade with stocks from across several sectors attracting buyers.
News about China and the U.S. agreeing on a trade deal, and the resultant buoyancy in major European markets lifted sentiment in the Swiss market as well.
Following negotiations in Switzerland over the weekend, the U.S. and China struck a deal to suspend tariffs for 90 days and slash rates going forward.
As per the announcement by the two countries, the U.S. tariffs on Chinese goods will fall to 30% from 145% while Chinese duties on U.S. imports will fall to 10% from 125%.
The benchmark SMI ended with a gain of 132.31 points or 1.09% at 12,219.63, the day's high. The index touched a low of 12,020.31 about an hour after the opening bell.
Logitech International rallied 8.15%. VAT Group and Richemont gained 6.53% and 6.45%, respectively. Partners Group, Julius Baer, Adecco and Swatch Group gained 5 to 5.7%.
Straumann Holding, UBS Group, Kuehne + Nagel, ABB, Sika and SIG Group climbed 2.9 to 4.6%. Roche Holding, Sonova and Holcim also closed notably higher.
Tecan Group shares surged more than 6% after the company confirmed its 2025 sales outlook despite reporting a slight drop in sales in the first quarter.
Swisscom ended down 2.21%. Nestle, Geberit, Lonza Group, Swiss Life Holding and Givaudan lost 1 to 1.7%.
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