Swiss Market Ends Modestly Higher
2024-09-17
1999
(fxcue news) - The Switzerland market ended modestly higher on Tuesday, tracking positive cues from markets across Europe, amid continued optimism about an interest rate cut by the Federal Reserve on Thursday.
The benchmark SMI, which moved in a tight band between 12,040.76 and 12,120.01, ended the day's session with a gain of 37.31 points or 0.31% at 12,042.78.
Julius Baer climbed 4.65%. Straumann Holding and SIG Group gained 2.76% and 2.25%, respectively.
ABB and Geberit, both closed nearly 2% up. Lindt & Spruengli, Holcim and Sika ended up 1.6 to 1.75%, and Logitech International gained 1.41%.
UBS Group, Swiss Life Holding, Richemont, Roche GS, VAT Group, Schindler Ps, Roche Holding and Partners Group also ended on a firm note.
Barry Callebaut shares moved up after Barclays double-upgraded the stocks to "overweight" from "underweight". Barclays said the Swiss chocolate maker should benefit from cocoa price normalisation on the back of a more favourable crop outlook.
Lonza Group ended with a loss of about 2.1%. Sonova, Givaudan, Alcon, Novartis, Swisscom and Nestle drifted down 0.3 to 0.6%.
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