November 23, 2020

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Swiss Market Ends Slightly Up

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After staying in positive territory till a little past noon, the Switzerland stock market turned weak and finally ended Friday’s session with a small gain.

Rising hopes about Covid-19 vaccines sometime soon helped lift sentiment, while continued surge in coronavirus cases and uncertainty about a fiscal stimulus in the U.S. limited market’s uptick.

The benchmark SMI, which touched a high of 10,528.33 and a low of 10,450.61, ended up 4.88 points or 0.05% at 10,495.65.

SGS gained a little over 1%. Sika and Richemont both ended nearly 1%. Novartis, LafargeHolcim, Zurich Insurance Group, Swiss Life Holding, Credit Suisse and Geberit gained 0.5 to 0.7%.

Shares of Swiss Re gained 0.75% after the insurance major confirmed its over-the-cycle financial targets. The company reiterated its capital management priorities, focusing on capitalisation and a stable or increasing dividend.

ABB and Lonza Group lost 1.2% and 1.05%, respectively. Partners Group declined 0.7%, while Nestle and Roche Holding shed 0.4% and 0.3%, respectively.

Among the stocks in the Mid Price index, Tecan Group and Kuehne & Nagel both ended higher by about 2.35%. Logitech gained 2.1%, while Barry Callebaut, Vifor Pharma, OC Oerlikon Corp, Baloise Holding, Schindler and Dufry gained 1 to 1.7%.

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2020-11-20 13:53:27


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