Swiss Market Ends On Firm Note

The Switzerland stock market ended on a firm note on Monday after staying positive right through the day’s session, thanks to positive global cues, and optimism about corporate earnings.

The benchmark SMI ended with a gain of 58.48 points or 0.57% at 10,382.19, after moving in a tight band between 10,351.13 and 10,411.19.

Roche Holding climbed about 1.5%. Novartis advanced 1.04%. Zurich Insurance Group, Swiss Re, Swiss Life Holdings, Holcim and Swisscom gained 0.6 to 1%.

Givaudan drifted down 1.26%, and Lonza Group ended nearly 1% down. Geberit and Sonova posted modest losses.

In the Mid Price Index, Clariant rallied nearly 2.5%. Meyer Burger Tech, Dufry and Galenica Sante gained 1.78%, 1.62% and 1.49%, respectively.

VAT Group ended down 2.07%. AMS ended nearly 2% down, and Tecan Group ended lower by 1.23%. Schindler Ps and Schindler Holding ended down 0.72% and 0.63%, respectively.

On the economic front, Switzerland’s leading KOF economic barometer barely changed at 95.8 in October 2023 from 95.9 in the previous month. The latest reading signaled a below-average development for the 17th straight month, as prospects for Swiss businesses remained pressured by higher borrowing costs.

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