Swiss Market Ends Marginally Up After Cautious Session
2024-08-07
3930
(fxcue news) - The Switzerland market ended slightly up on Monday after moving in a tight range above the flat line right through the day's session. Investors appeared a bit reluctant to make significant moves while awaiting some crucial economic data including reports on UK and US inflation, and GDP data from several countries.
The benchmark SMI ended up 7.78 points or 0.07% at 11,873.71, after moving between 11,867.32 and 11,935.33.
Logitech International climbed nearly 2%. Richemont ended up by about 1.25%. Partners Group, Julius Baer, Zurich Insurance Group, Straumann Holding, Swiss Life Holding and ABB gained 0.5 to 1%.
Swisscom, UBS Group, Kuehne + Nagel posted modest gains.
Lonza Group ended 1.8% down. Lindt & Spruengli and Sonova both ended lower by a little over 1.5%. Alcon and Givaudan both ended down 1.12%. Geberit and SIG Group also ended weak.
Sandoz announced that it has secured the US Food and Drug Administration's approval for its biosimilar Enzeevu as an intravitreal injection for the treatment of patients with neovascular age-related macular degeneration. Sandoz shares edged down marginally.
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