Swiss Market Ends Moderately Higher
(RTTNews) - After struggling for direction till more than a couple of hours past noon, Swiss stocks found some support on Friday to end the day's session on a firm note.
Worries about tariff war and its impact on global economic growth weighed on sentiment, while optimism about a ceasefire in Ukraine helped a bit in lifting the mood.
The benchmark SMI ended with a gain of 80.62 points or 0.63% at 12,916/81, after scaling a high of 12,948.27.
Adecco rallied 5.66%. Partners Group gained 3.5%. UBS Group, Straumann Holding, Richemont and Holcim closed higher by 2 to 2.5%.
Sika, Swatch Group, ABB, Lonza Group, Alcon and Julius Baer gained 1.1 to 1.9%, and Sandoz Group closed nearly 1% up.
Roche Holding, SIG Group, Kuehne + Nagel, Lindt & Spruengli, Swiss Re and Schindler Ps also closed on positive note.
Givaudan ended down 2.1% after Baader Helvea lowered the stock's price targer a bit.
Swiss Life Holding ended lower by about 2.1% after futures earnings outlook raised concerns. The company reported a net profit of CHF 629 million for the second-half of 2024, about 1% above market forecasts. Profit from operations reached CHF 900 million, exceeding estimates by roughly 3%.
Sonova closed 1.55% down, and SGS ended down 1.04%. Novartis and Swisscom closed modestly lower.
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