Swiss Market Settles Modestly Higher
(RTTNews) - After opening slightly up and staying marginally above the flat line till about an hour before noon on Friday, Swiss stocks gained in strength and finally ended the trading session modestly higher.
The benchmark SMI, which moved between 13,153.33 and 13,238.59, settled with a gain of 40.33 points or 0.31% at 13,188.26.
Givaudan gained 2.1%. Straumann Holding closed with a gain of 1.6%, while Richemont and Roche Holding moved up 1.18% and 1.07%, respectively.
Alcon, Julius Baer and Galderma Group gained 0.7 to 0.9%, while Kuehne + Nagel, VAT Group, Swiss Re, Sonova, ABB and Helvetia Baloise Holding ended higher by 0.4%-0.6%.
Lonza Group slipped 1.7% and Logitech International lost 1.07%. UBS Group, Sandoz Group, Amrize and Lindt & Spruengli ended lower by 0.4%-0.5%.
In economic news, a measure signaling future turning points in the Swiss economy decreased for the first time in five months in January, though it remained above its medium-term average, the results of a survey by the KOF Swiss Economic Institute showed.
The economic barometer dropped to 102.5 in January from 103.6 in December, which was the highest score in fifteen months.
The outlook is clouding over somewhat but remains above average, the survey said.
Among the indicators, the decrease was mainly reflected in hospitality and for construction, while positive developments were seen in the indicator bundles for manufacturing and for financial and insurance services.
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