Swiss Market Ends On Firm Note
(RTTNews) - After opening slightly down Monday morning, the Switzerland market recovered and kept edging higher as the day progressed and eventually ended on a firm note with several stocks posting solid gains in the final hour.
Last week's data showing a sharp surge in Swiss industrial output, and rising optimism about an interest rate cut by the Federal Reserve in September helped underpin sentiment.
The benchmark SMI ended with a gain of 86.51 points or 0.71% at 12,275.24. The index, which edged down to 12,167.45 in early trades, climbed to a high of 12,296.22.
Richemont climbed about 2.2%. Partners Group and Holcim both ended nearly 2% up. Holcim moved up as Deutsche Bank upgraded the stock's rating to "buy" from "hold", and increased its price target to 91 francs from 81 francs.
Straumann Holding ended 1.76% up, while Geberit, Sandoz Group, SIG Group, Vat Group and ABB gained 1.1 to 1.5%.
SGS, Alcon, Sika, Novartis, Lonza Group, Swiss Life Holding, Swiss Re and Schindler Ps ended moderately higher.
UBS Group, Julius Baer and Lindt & Spruengli ended weak.
European Shares Broadly Higher In Quiet Trade
FTSE 100 Marginally Lower In Quiet Trade
CAC 40 Rises Led By Banks
DAX Holds Steady In Lackluster Trade
Asian Shares Mixed; Nikkei Rallies On Weak Yen
European Shares Set To Follow Asian Peers Higher
NZ Dollar Slides Against Majors
