Swiss Market Ends Notably Higher
(RTTNews) - The Switzerland market started off on a weak note Friday morning, but recovered swiftly and then kept moving higher and higher as the day progressed to eventually close on a strong note.
Rising hopes of an interest rate cut by the Federal Reserve in September, and some fairly encouraging earnings updates aided sentiment.
The benchmark SMI ended with a gain of 135.95 points or 1.12% at 12,241.49, slightly off the session's high of 12,250.56.
Lonza Group climbed 3.79%. Roche GS, Richemont, Sandos Group, Roche Holding and ABB gained 2 to 3.1%.
Schindler Ps, Logitech International, UBS Group, Sika, Alcon, Sonova, Geberit, VAT Group and SIG Group ended higher by 1 to 1.6%.
Swiss Re advanced nearly 1%. Zurich Insurance, Swiss Life Holding, Swatch Group, SGS, Novartis and Julius Baer also ended on firm note.
Nestle ended down 1%. Kuehne + Nagel and Straumann Holding ended marginally down.
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