Swiss Market Ends Moderately Higher
(RTTNews) - The Switzerland market ended moderately higher on Monday after staying firm right through the day's session, tracking positive cues from other markets in the region.
Investors picked up stocks ahead of some crucial economic data, including a report on Swiss inflation.
The benchmark SMI ended with a gain of 55.78 points or 0.47% at 12,049.61. The index, which climbed to 12,103.30, touched a low of 12,022.16 in the session.
UBS Group climbed 2%. The bank announced the completion of the merger of its UBS Switzerland unit and Credit Suisse (Schweiz), marking a key milestone in the group's integration of Credit Suisse.
Julius Baer ended 1.67% up, while Swiss Life Holding, SIG Group, Straumann Holding and Kuehne+Nagel gained 1.2 to 1.3%.
Givaudan, Sonova, ABB, Swiss Re, Zurich Insurance, Swisscom, Lindt & Spruengli, Novartis and Swatch Group advanced 0.5 to 1%.
Nestle pared early gains and ended marginally higher. The stock rallied after reports indicated that the Swiss food giant is anticipating stable growth with positive volume and product mix contributions from the second quarter throughout the remainder of the year.
Sika, VAT Group, Partners Group and Lonza ended lower by 0.4 to 0.8%. Sandoz Group shares ended lower by 0.28%. The company announced that it has secured the US Food and Drug Administration's approval of Pyzchiva for all indications of the reference drug Stelara. The generics and biosimilar drugmaker also unveiled plans to launch the psoriasis drug in the US in February 2025.
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