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.
Swiss Market Ends On Firm Note On Strong Economic Data
European Stocks Close Higher As Investors React Positively To Earnings Announcements
Brazilian Real Weakens To Near 3-month Low Against U.S. Dollar
Pound Firms Against Majors
U.S. Construction Spending Inches Slightly Higher In September
U.S. Manufacturing Index Unexpectedly Dips To Lowest Level In Over A Year
CPSC Recalls: Polaris ROVs, Floating Wall Theaters, Charge Case Accessory, Backpack Sprayers
