Swiss Market Ends On Buoyant Note; Lonza Group Soars On Higher Sales

The Switzerland market ended on a buoyant note on Friday, tracking positive cues from other markets in Europe, thanks to a batch of encouraging data and signs of cooling inflation.

The benchmark SMI ended with a strong gain of 181.11 points or 1.62% at 11,390.13. The index scaled a low of 11,239.14 and a high of 11,421.24 intraday.

Lonza Group soared 14.4%. The company reported sales of CHF 6,717 million for the year 2023, compared to CHF 6,223 million in the previous year. Net income for the full-year was CHF 654 million compared to CHF 1,215 million a year ago, the company sid.

Richemont surged 6.2%, while Nestle and Roche Holding ended higher by 2.4% and 2.25%, respectively. Sika climbed 1.77%.

Givaudan, Swisscom and Geberit gained 1.28%, 1.16% and 1%, respectively. Sonova, Swiss Life Holding and ABB posted moderate gains.

Logitech International and Novartis closed modestly lower, while Holcim edged down marginally.

In the Mid Price Index, SGS zoomed more than 9%. Tecan Group surged 5.4%, Meyer Burger Tech gained 4.26% and Julius Baer climbed 3.58%.

Barry Callebaut and Swatch Group gained 3.2% each, Ems Chemie Holding, Straumann Holding, Belimo Holding and Adecco gained 2 to 3.25%, while Clariant and SIG Combibloc advaned 1.53% and 1.46%, respectively.

ams OSRAM AG, BKW and VAT Group lost 1.14 to 1.33%.

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