Swiss Market Ends Moderately Higher; Sandoz Group Jumps Over 6%
(RTTNews) - Despite very nearly falling below the flat line a little past noon, the Switzerland stock market stayed positive right through the trading session on Wednesday thanks to selective buying at a few frontline counters.
The benchmark SMI, which dropped to a low of 14,466.40 nearly an hour past noon, recovered to 14,568.16 in the final hour before settling at 14,551.56, gaining 88.33 points or 0.81%.
Sandoz Group climbed more than 6% after the Basel-based company reaffirmed its full-year guidance and highlighted continued momentum in its pipeline.
Net sales for rose to $5,761 million in the first-half, up 10% from $5,232 million in the first-half of the previous financial year.
Sika gained 2.7%. Givaudan, Amrize, Galderma Group and Roche moved up 2%-2.1%. Geberit, Julius Baer and Lindt & Spruengli advanced 1.1%-1.5%.
Straumann Holding, Lonza Group, Nestle, ABB, Swiss Re, Richemont and VAT Group posted moderate gains.
Logitech International shed 2.3%. Swiss Life Holding, Swisscom, Alcon and Holcim lost 0.7%-1.1%.
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