Swiss Market Ends Marginally Higher
(RTTNews) - After swinging between gains and losses for almost the entire duration of the day's session, the Switzerland stock market ended marginally up on Friday.
Stocks turned in a mixed performance with investors assessing recent economic data from the U.S. and Europe, and looking ahead to the interest rate announcements from the Federal Reserve, the Bank of England, and the European Central Bank.
All these central banks, scheduled to announce their policy decisions next week, are expected to raise their interest rates by 50 basis points.
The benchmark SMI ended the session with a gain of 14.74 points or 0.13% at 11,332.30. The index, which moved in a very tight band, touched a low of 11,296.15 and a high of 11,359.46.
Geberit gained about 2.6%. Holcim climbed 2.15%, Sonova and Logitech both ended higher by about 1.65%, while Credit Suisse and Richemont advanced 1.2% and about 1.1%, respectively.
Swiss Re ended lower by about 1.05%. Givaudan ended 0.8% down, while Zurich Insurance Group and Nestle declined marginally.
In the Mid Price Index, SGS drifted down nearly 3%. Straumann Holding shed about 1%, while Clariant, Helvetia and Galenica Sante lost 0.8 to 0.9%.
Temenos Group surged more than 3%. Georg Fischer gained nearly 2%, and Swatch Group ended 1.56% up. SIG Combibloc, Belimo Holding, Adecco and Lindt & Spruengli gained 0.8 to 1.2%.
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