Swiss Market Ends On Strong Note
(RTTNews) - The Switzerland market shrugged off a somewhat sluggish start and kept moving higher as the session progressed on Tuesday to eventually close on a strong note.
The benchmark SMI closed with a gain of 102.71 points or 0.86% at 12,109.42.
Amrize climbed 1.83%. Roche Holding, Galderma Group, Lonza Group, Geberit and Nestle gained 1.3 to 1.5%.
Julius Baer, Logitech International, Novartis, Holcim, Swiss Re and SGS ended higher by 0.9 to 1.2%.
Straumann Holding ended down 2.65%. Kuehne + Nagel lost 2.2%, and Sonova ended nearly 2% down. Swatch Group, Lindt & Spruengli and Sandoz Group closed down by 0.7 to 1%.
Results of a survey by the KOF Swiss Economic Institute showed a measure signaling future turning points in the Swiss economy improved in September but still remains subdued.
The economic barometer rose to 98.0 in September from an upwardly revised 97.4 in August. Nonetheless, it was still below the medium-term average of 100.
In September, the production-side indicator bundles, including manufacturing and financial and insurance services, point to an improved outlook in particular, while on the demand side, the indicators for foreign demand weakened. Data showed that the prospects for private consumption remain unaltered, the KOF said.
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