Swiss Market Ends On Buoyant Note; UBS Soars
(RTTNews) - The Switzerland market ended on a buoyant note on Tuesday, with strong results and optimism about interest rate cuts triggering sustained buying at several counters.
The benchmark SMI, which kept moving higher after a firm start, ended with a gain of 183.31 points or 1.64% at 11,512.97, a few points off the day's high of 11,526.26.
UBS Group shares climbed about 7.6% as the lender returned to profit after two loss-making quarters. The lender reported a net profit of US$1,755 million for the first-quarter, compared to a net loss of US$279 million in the preceding quarter. In the quarter ended March 2023, the lender had posted a net profit of US$1,029 million.
Geberit climbed 4.7%. Givaudan, Novartis, Partners Group, SIG Group, Roche Holdings, Sonova, Sika, Straumann Holdings and Lindt Spruengli gained 1.4 to 2.1%.
Zurich Insurance Group, Alcon, Swiss Life Holding, Julius Baer, Logitech International, Swiss Re and Nestle also posted strong gains.
Sandoz Group ended down by 2.52%. Swatch Group ended modestly lower, while SGS ended flat.
TSX Hits New High, Up Nearly 0.5%; Materials Stocks Rally Again
Kirkland Signature Ahi Tuna Wasabi Poke Sold At Costco Recalled
Bay Street Looks Headed For Positive Start
China's BYD Stock Down On Reports Of Warren Buffett's Berkshire Hathaway Sells Out Stake
FTSE 100 Up Marginally; Miners In Demand
CAC 40 Modestly Lower In Cautious Trade
DAX Moderately Lower; Auto Stocks Lose Ground
