Swiss Market Ends Modestly Higher
(RTTNews) - The Swiss market, which recovered a bit after a weak start and moved across the flat line till well past noon on Monday, climbed higher in late afternoon trade and eventually ended the session modestly higher.
The benchmark SMI ended with a gain of 39.55 points or 0.36% at 11,085.04. The index, which dropped to 11,019.98 at the start, climbed to a high of 11,101.92.
Worries about geopolitical tensions and a surge in Covid-19 cases in China weighed on sentiment and limited market's upside.
Novartis climbed about 1.75% and Swisscom gained 1.62%, while Alcon and Nestle advanced 1.3% and 1.15%, respectively.
Zurich Insurance Group and Lonza Group gained 0.81% and 0.71%, respectively.
ABB advanced 0.4%. The company announced that its unit ABB E-mobility has signed a pre-IPO private placement of around 200 million Swiss francs for newly issued shares.
Credit Suisse drifted down 2.5% and Givaudan ended 2.22% down. Sonova ended nearly 2% down, while Partners Group, Richemont and Geberit lost 1.2 to 1.7%.
Among the stocks in the Swiss Mid Price Index, Bachem Holding climbed 7.2% and Tecan Group surged 3.3%. Julius Baer and Barry Callebaut gained 1.56% and 1.4%, respectively.
Zur Rose dropped nearly 5%. AMS ended 2.92% down and SGS ended lower by 2.3%.
Schindler Ps, Schindler Holding, Temenos Group, Ems Chemie Holding, Clariant and Swatch Group lost 1 to 2%.
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