Swiss Market Ends On Buoyant Note
(RTTNews) - The Switzerland market started off on a flat note on Friday, but gained in strength as the day progressed with stocks from across several sectors finding good support.
Investors shrugged off concerns about geopolitical tensions and Trump's tariff threats for now, and chose to pick up stocks, tracking recent earnings updates.
The benchmark SMI closed up 140.52 points or 1.1% at 12,948.60, the day's high.
Nestle rallied 3.35%. Lindt & Spruengli and Adecco both gained about 2.8%. VAT Group climbed 1.81% and Novartis ended 1.54% up.
Sika gained 0.85% on good results. The company logged a year-over-year increase in net sales to 11.76 billion francs from 11.24 billion francs and a 17.4% jump in net profit to 1.25 billion francs. The company projects a 3% to 6% sales growth in local currencies for 2025.
Roche Holding, Givaudan, Swatch Group, Swisscom, Sika, Alcon, UBS Group and Logitech International gained 0.6 to 1.1%.
Straumann Holding ended down 1.51%. Sandoz Group, Holcim, SGS and Schindler Ps ended modestly lower.
The HCOB Eurozone Composite PMI at 50.2 in February of 2025, remaining unchanged from the previous month for a second consecutive period. The Eurozone manufacturing PMI rose to 47.3 in February from 46.6 in January, while services PMI fell to a three-month low of 50.7 in February, down from 51.3 in January.
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