Swiss Market Ends On Strong Note

RTTNews | 752 dagar sedan
Stocktwits
Swiss Market Ends On Strong Note

(RTTNews) - The Switzerland market, which opened modestly higher Monday morning, ended the day's session on a strong note, with stocks gaining in strength as the session progressed.

The World Economic Forum kicked off today in Switzerland, with the war in Ukraine, economic instability and uncertainty and climate change on the agenda.

The benchmark SMI ended with a gain of 145.20 points or 1.29% at 11,435.99, the day's high.

Partners Group gained 3.5%. Sika gained nearly 3.5%, after the Swiss specialty chemical firm inked a deal with British firm INEOS to sell MBCC Group's admixtures business in various countries to address competition concerns.

Lonza Group ended nearly 2.5% down. Novartis, Givaudan, Credit Suisse, Holcim, UBS Group and Alcon gained 1.5 to 2%.

Sika AG gained about 1 percent. The Swiss specialty chemical firm has inked a deal with British firm INEOS to sell MBCC Group's admixtures business in various countries to address competition concerns.

In the Mid Price Index, Temenos Group soared nearly 9% as CEO Max Chuard quit the software company under pressure from activist shareholders.

Straumann Holding climbed about 3%. VAT Group surged 2.5%, while Kuehne & Nagel, Schindler Holding, Adecco, Schindler Ps, SIG Combibloc, Ems Chemie Holding and Lindt & Spruengli N gained 1.6 to 2.2%.

Lindt & Spruengli Part, AMS, Belimo Holding, PSP Swiss Property, SGS and Roche Holding also ended with impressive gains.

Zur Rose drifted down 4%. Tecan Group ended 2.2% down, while Bachem Holding ended nearly 1% down.

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