Swiss Market Ends Modestly Higher
2024-12-31
3231
(fxcue news) - The Switzerland market, which stayed positive save for a few minutes at the start of the session on Thursday, closed modestly higher, in line with markets across Europe.
The benchmark SMI closed up 50.90 points or 0.43% at 11,927.11. The index, which edged down slightly to 11,868.98 in early trades, touched a high of 11,968.89 in the session.
UBS Group gained nearly 3%. Sandoz Group and Partners Group both closed higher by about 2.4%. Roche Holding climbed 1.84% and Givaudan ended higher by 1.52%.
Straumann Holding, SGS, Novartis, Swisscom and Sonova also closed on firm note.
Adecco closed lower by 6.23%. VAT Group ended nearly 6% down. Swatch Group lost about 3% following a rating downgrade. Lindt & Spruengli declined 2.7%, while Kuehne + Nagel, Zurich Insurance Group, Swiss Re closed down 1.1 to 1.4%.
Richemont, SIG Group, Geberit, Swiss Life Holding, Sika and Nestle also ended weak.
Data released by the Swiss National Bank said foreign exchange reserves in Switzerland increased to CHF 730.96 billion in December from CHF 724.69 billion in November of 2024.
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