Swiss Market Ends Sharply Higher On Strong Earnings News
(RTTNews) - The Switzerland stock market ended on a strong note on Tuesday, tracking positive global cues and reacting to some buoyant earnings updates.
The benchmark SMI, which stayed firm right through the session, ended with a gain of 177.81 points or 1.68% at 10,773.34, near the day's high.
Logitech, which soared 12.5%, was the top gainer in the SMI Index.
UBS Group climbed 7.73% after beating profit expectations in its third quarter. UBS said net income in the July - September 2022 quarter was $1.73 billion, compared with analyst estimates of $1.57 billion. The wealth management unit saw lending revenue jump amid client inflows of $17.1 billion.
Sika gained about 3.75% after the U.K.'s Competition and Markets Authority announced that it was considering a solution to address concerns relating to the merger of Sika AG and MBCC Group.
Partners Group rallied 5.23%, while Givaudan and Lonza Group gained 3.85% and 3.64%, respectively.
Richemont, Geberit and Sonova climbed 2.4 to 2.6%, Credit Suisse gained 2%, whileABB, Roche Holding and Swiss Life Holding ended higher by 1.2 to 1.53%.
In the Mid Price Index, VAT Group surged nearly 6% and Belimo Holding gained about 5.4%. Kuehne & Nagel climbed 4.3% and Zur Rose gained nearly 4%.
PSP Swiss Property, Julius Baer, AMS, Georg Fischer, Swiss Prime Site, Temenos Group and Straumann Holding gained 2 to 3.2%.
U.S. Dollar Falls Against Most Majors
German Inflation Accelerates To 2.2% In August
Canadian Market Up In Positive Territory; BRP Rises Sharply On Strong Earnings
Swiss Market Ends Modestly Lower
European Stocks Close Lower On Geopolitical Tensions
U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August
Chicago Business Barometer Slumps Much More Than Expected In August
