Swiss Market Ends On Firm Note
2025-02-20
2579
(fxcue news) - Despite a slightly negative start, the Switzerland market closed on a firm note on Tuesday as stocks recovered swiftly and kept edging higher as the day progressed.
Worries about tariff threats lingered, but the market still managed to stay firm after recovering from early weakness.
The benchmark SMI, which dropped to 12,914.11 at the start, closed higher by 71.80 points or 0.55% at 13,025.01, after hitting a high of 13,040.36.
Novartis climbed 2.35%. Lindt & Spruengli gained nearly 2% and Nestle closed 1.4% up. Holcim, Swiss Life Holding, Zurich Insurance and Richemont gained 0.67 to 1%.
Swisscom, Swiss Re, Roche Holdings and Julius Baer posted modest gains.
Adecco and VAT Group closed lower by 2.4% and 2.37%, respectively. ABB, Sika and Partners Group settled lower by 1.7%, 1.55% and 1.45%, respectively.
Lonza Group closed nearly 1% down. Givaudan and Alcon ended moderately lower.
SIG Group plunged nearly 14% on weak results. The company reported a profit of $194.5 million euros for 2024, compared to 243.2 million euro a year earlier.
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