Swiss Market Ends Modestly Higher
(RTTNews) - The Switzerland stock market ended modestly higher after moving in a tight range once again, with investors tracking global cues and largely making cautious moves.
Investors also digested Swiss unemployment data released earlier in the day.
The benchmark SMI, which moved between 11,144.77 ad 11,210.34, ended the day with a gain of 43.25 points or 0.39% at 11,166.32.
Geberit, up 2.75%, was the top gainer in the SMI. Partners Group gained 2.72%, Credit Suisse advanced 2.17% and Richemont gained 1.73%, while UBS Group climbed 1.58%.
Zurich Insurance Group, Givaudan, Swiss Life Insurance, Swiss Re and Sika also ended with notable gains.
Alcon drifted down 1.35%. Swisscom ended 1.24% down and Roche Holding eased 0.27%.
In the Swiss Mid Price Index, BB Biotech, Zur Rose, Dufry, PSP Swiss Property, Bachem Holding, Straumann Holding, Tecan Group and VAT Group gained 2 to 3%.
Kuehne & Nagel ended nearly 2% down. Barry Callebaut, AMS and Galenica Sante shed 0.4 to 0.7%.
Data released by the State Secretariat for Economic Affairs, or SECO, showed Switzerland's unemployment rate held steady in July after falling in the previous month.
The unadjusted unemployment rate came in at 2% in July, the same rate as in June, the data showed. In the corresponding month last year, the jobless rate was 2.8%.
The youth unemployment rate, which is applied to the 15-24 age group, rose to 1.8% in July from 1.7% in June.
Data also showed that the seasonally adjusted jobless rate remained unchanged at 2.2% in July.
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