Swiss Market Ends On Firm Note
2024-08-05
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(fxcue news) - Despite a mid-session setback, the Switzerland market ended on a firm note on Tuesday as stocks found some support in late afternoon trades.
The benchmark SMI ended with a gain of 54.43 points or 0.46% at 11,928.14. The index touched a low of 11,800.85 and a high of 11,933.42 in the session.
Sonova climbed about 1.7%, and Sandoz gained 1.34%, while Logitech International, UBS Group, ABB and SGS ended higher by 1 to 1.2%.
Roche Holding, Swatch Group, Lonza Group and Julius Baer gained nearly 1%. Partners Group, Lindt & Spruengli, VAT Group, Roche GS and Zurich Insurance also ended notably higher.
Shares of Swissquote Group climbed higher after the banking group reported a 19.% jump in first-half revenue.
Shares of Tecan Group tumbled more than 16% on weak results. The company reported a 57.8% drop in net profit to 22.5 million francs in the first half. Sales dropped 13.7% to 467.2 million francs in the first half.
Straumann Holding ended down 1.25%. Givaudan, Holcim and Kuehne + Nagel also edged lower.
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