Swiss Market Ends Modestly Higher
(RTTNews) - The Switzerland market's benchmark SMI ended modestly higher on Friday after holding firm throughout the trading session, outperforming most of its peers in Europe.
Investors continued to react to the latest quarterly earnings announcements, while keeping an eye on global economic data and recent policy moves of major central banks.
The SMI ended with a gain of 53.80 points or 0.36% at 14,810.66, after moving between 14,777.23 and 14,849.75.
Nestle moved up 2.3% and Lindt & Spruengli gained about 2.2%. Swiss RE, Galderma Group and Swisscom climbed 1.6%-1.7%. Givaudan gained nearly 1.5%.
Novartis, Straumann Holding and Schindler Ps gained 1%-1.1%. Richemont, Sonova, Zurich Insurance, Alcon, Helvetia Baloise Holding, Lonza Group, Sika and Roche ended up by 0.4%-0.85%.
VAT Group ended lower by 5%. Logitech International dropped 4.15% and ABB drifted down by 3.3%.
Holcim, Sandoz Group, UBS Group, Julius Baer, Amrize and Partners Group settled lower by 0.5%-1.3%.
In economic news, a report from Swiss Economic Institute showed Switzerland's KOF Economic Barometer fell to 107.6 in October, down from 109.1 in September and below market expectations of 108.3. Despite the decline, the barometer remained above its medium-term average, indicating a continued robust outlook for the Swiss economy.
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