Swiss Market Ends Marginally Up
(RTTNews) - After a flat start and a subsequent weak spell that lasted till about a couple of hours past noon on Tuesday, Swiss stocks found some support and finally ended the day's session on a slightly positive note.
The benchmark SMI ended with a gain of 18.90 points or 0.15% at 12,893.98, after moving between 12,825.29 and 12,909.97.
ABB climbed 2.01%. Schindler Ps, UBS Group, Swiss Re and Adecco closed higher by 1.1 to 1.4%.
Julius Baer, Swisscom, SIG Group, Holcim, Novartis, Kuehne + Nagel, Zurich Insurance Group and VAT Group gained 0.3 to 0.85%.
Basilea Pharmaceutica jumped more than 8% on strong earnings. The company said its full-year 2024 net profit surged to 77.6 million francs from 10.5 million francs a year before. Total revenue also soared 32% over the period to 208.5 million francs, boosted by strong in-market sales of its antifungal drug Cresemba.
Lonza Group ended down 2.73%. Sandoz Group closed 1.61% down, while Richemont and Givaudan ended lower by 1.34% and 1.19%, respectively. Lindt & Spruengli settled lower by about 0.8%.
Provisional data from the Federal Statistical Office showed Switzerland's industrial production expanded further in the final quarter of 2024, though at a slower pace compared to previous quarters.
Industrial production climbed 2.2% year-over-year in the fourth quarter, following a 3.1% growth in the third quarter.
The output produced in the manufacturing sector was 2% higher compared to last year versus a 1.7% rise in the previous quarter.
During December, industrial production grew 4.1% annually versus a 0.9% increase in November.
Rate Cut Hopes Drag The Dollar Down
Bay Street Likely To Open Slightly Higher, But Weak Metal Prices Could Weigh
FTSE 100 Up Marginally As Investors Look For Direction
CAC 40 Drifts Lower In Lackluster Trade
Sensex Jumps 746 Points As Focus Shifts To Trump-Putin Talks; Nifty Ends At 24,585
DAX Modestly Lower In Cautious Trade; Defense Stocks Drift Lower
UK Job Placements Decline Sharply On Weaker Confidence & Budget Pressures
