Swiss Market Ends On Upbeat Note
(RTTNews) - The Switzerland market closed on an upbeat note on Wednesday, as pharma majors Roche and Novartis rallied sharply amid easing tariff concerns after Pfizer struck a deal with the Trump administration to allow patients to purchase discounter prescription drugs through a new federal website.
The benchmark SMI closed with a strong gain of 250.71 points or 2.07% at 12,360.13, the day's high.
Roche Holding surged about 8.7%, and Novartis climbed nearly 4%.
VAT Group ended 3.05% up. Kuehne + Nagel, Swatch Group, Lonza Group, Straumann Holding and Nestle gained 1.1 to 1.6%.
Sandoz Group tumbled 5.2%. Galderma Group drifted down 2.6%, and Lindt & Spruengli lost 1.48%. UBS Group, Amrize, Schindler Ps and Givaudan also closed weak.
Data from the Federal Statistical Office revealed Swiss retail sales decreased for the first time in three months in August, dropping by 0.2% on a yearly basis, reversing a 0.9% rise in July. Sales were expected to rise by 0.5%.
Month-on-month, retail sales decreased at a slower pace of 0.2% in August versus a 0.4% fall in July.
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