Sat. Sep 26th, 2020

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Swiss Market Closes Higher

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The Switzerland stock market shrugged off a slightly weak start on Friday and kept edging higher as the session progressed to eventually close with modest gains.

Activity was largely stock specific and the mood was somewhat cautious amid lingering worries about virus pandemic and its impact on growth.

The benchmark SMI ended up 52.08 points or 0.5% at 10,4398.52, after scaling a low of 10,356.28 and a high of 10,474.33.

The SMI ended down 19.13 points or 0.18% at 10,387.44 on Thursday, after having surged up more than 1.5% a session earlier.

Among the gainers, Richemont shares rose nearly 3% and Swatch Group advanced 2.5%. Adecco, LafargeHolcim and Novartis ended higher by 1.3 to 1.7%, and Alcon rose nearly 1%.

Bank stocks Credit Suisse and UBS Group declined 0.7% and 0.4%, respectively.

In the midcap section, Straumann Holding climbed 3.3%. Sonova, VAT Group, AMS, Vifor Pharma and Ems Chemie Holding gained 1.5 to 2%.

Flughafen Zurich, Dufry and Dorma Kaba Holding lost 1.4 to 1.6%. Julius Baer ended lower by about 1.1%, while OC Oerlikon Corp and Bucher Industries ended with moderate losses.

The major European markets closed higher today. The pan European Stoxx 600 moved up 0.27%. The U.K.’s FTSE 100 gained 0.48%, France’s CAC 40 advanced 0.2% and Germany’s DAX edged down 0.05%.

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2020-09-11 14:10:09

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