Swiss Market Ends Modestly Higher
(RTTNews) - The Switzerland stock market ended modestly higher on Tuesday after staying fairly steady right through the day's session.
The benchmark SMI, which moved in a tight range between 10,804.76 and 10,857.61, ended with a gain of 52.89 points or 0.49% at 10,839.11.
UBS Group shares gained about 1.7% after CEO Ralph Hamers reportedly said the Swiss lender views its government-orchestrated takeover of Credit Suisse Group as a growth opportunity.
Novartis climbed nearly 1.5%, extending gains from the previous session. Holcim, Swiss Life Holding and ABB advanced 1 to 1.2%.
Zurich Insurance Group, Credit Suisse and Nestle gained 0.65 to 0.9%. Alcon, Swiss Re and Sonova also ended higher.
Partners Group drifted down 1.82%. Givaudan, Lonza Group and Richemont lost 0.8 to 0.9%.
In the Mid Price Index, Zur Rose surged 2.36%, Swatch Group gained 1.67% and Flughafen Zurich ended 1.25% up. Baloise Holding, Georg Fischer and Helvetia gained nearly 1%.
Swiss Prime Site and AMS lost 4.89% and 4.4%, Bachem Holding ended 2.6% down, while PSP Swiss Property declined nearly 1%.
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