Swiss Market Ends Modestly Higher
2024-08-05
1918
(fxcue news) - The Switzerland market ended modestly higher on Friday after a somewhat choppy session, with investors largely making their moves, reacting to earnings updates. Data showing an improvement in Swiss consumer sentiment supported the market.
The benchmark SMI ended with a gain of 38.50 points or 0.33% at 11,865.93, after scaling a low of 11,826.77 and a high of 11,925.71 intraday.
Sandoz Group rallied nearly 2.5%. Straumann Holding gained about 1.5%. Givaudan, Alcon and Julius Baer ended nearly 1% up.
Swiss Re, Partners Group, Richemont, Roche GS, Novartis, Holcim, Swiss Life Holding and Geberit ended higher by 0.35 to 0.75%.
Lindt & Spruengli and SIG Group both ended lower by a little over 1%. Lonza Group ended down 0.57%.
On the economic front, a report from the State Secretariat for Economic Affairs said the consumer confidence indicator in Switzerland came in at -32.4 in July, up from a revised -36.6 in the previous month and better than market forecasts of -36.
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