Swiss Market Ends Higher Again
2024-08-28
4617
(fxcue news) - The Switzerland market ended higher on Friday, extending gains to a third straight session, as encouraging European and U.S. economic data and optimism about interest rate cuts helped underpin sentiment.
The benchmark SMI ended with a gain of 18.87 points or 0.15% at 12,436.59. The index moved in a tight range between 12,417.72 and 12,483.57.
SIG Group climbed nearly 2.5%. Lindt & Spruengli ended nearly 2% up. Geberit, Roche Holdings, Roche GS, Richemont, Swisscom, Sandoz Group, Swiss Life Holding, Sika, ABB and Holcim gained 0.4 to 0.9%.
VAT Group dropped about 1.4%. Logitech International ended down 0.75%. Swiss Re, Givaudan, UBS Group and Julius Baer ended lower by 0.3 to 0.4%.
EMS-Chemie Holdings ended lower by 0.6%, weighed down by drop in first-half net sales. However, the company reported a surge in net income in the first-half of the financial year.
On the economic front, the Swiss Economic Institute said in its report that the KOF Economic Barometer in Switzerland rose to 101.6 in August 2024, up from a revised 100.6 in July.
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