Swiss Market Ends On Firm Note
(RTTNews) - Despite struggling for direction early on in the session and very nearly slipping into negative territory around late afternoon, the Switzerland stock market's benchmark index SMI closed on a firm note on Tuesday thanks to brisk buying at a few counters in the closing hour.
Easing worries about Middle East tensions and sharply lower oil prices contributed to the fairly positive mood in the Swiss market.
The less-than-feared market disruption from the fresh sanctions imposed by the U.S. on Iran supported sentiment.
Brent crude futures dropped nearly 4% to around $87 a barrel, easing concerns about inflation and interest rates.
The SMI settled with a gain of 78.10 points or 0.54% at 14,525.29, almost near the day's high.
ABB climbed 1.84%, while Sika, Swisscom, Novartis, VAT Group, Helvetia Baloise Holding and Lonza Group gained 1%-1.6%.
Schindler Ps, Holcim, Logitech International, Zurich Insurance Group, Roche and Sonova advanced nearly 1%.
Partners Group, Kuehne + Nagel, Givaudan, Geberit, Galderma Group and Swiss Life Holding also ended higher.
Amrize ended down by 2.59%. Lindt & Spruengli closed lower by 1.84%. Straumann Holding and Julius Baer ended down by 1.46% and 1.43%, respectively. Nestle and Richemont also settled weak.
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