Swiss Market Ends Moderately Higher
2025-01-17
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(fxcue news) - The Switzerland market closed on a firm note on Wednesday with several stocks turning in a fine performance amid optimism about further monetary easing by central banks. Worries about tariffs lingered as U.S. President Donald Trump reiterated the threat to impose tariffs and taxes on other countries.
The benchmark SMI, which held firm right through the day's session, closed with a gain of 96.73 points or 0.8% at 12,207.89.
ABB climbed 3.72% and Sonova gained 3.11%. Partners Group closed higher by 2.3%, while VAT Group, Alcon and Lonza Group gained 1.8 to 2%.
Swiss Re, Richemont, Roche Holding and Straumann Holding closed higher by 1.3 to 1.5%, while Zurich Insurance Group, Holcim, Swiss Life Holding, Sandoz Group, Julius Baer and Sika gained 0.6 to 1%. Novartis ended modestly higher.
Shares chocolate and cocoa products maker Barry Callebaut tumbled 8% after the company lowered its sales volume guidance for fiscal 2025. The company reported a rise in sales revenue at 3.45 billion francs in the first quarter, up from 2.24 billion francs in the year-ago quarter.
Swisscom ended down 1.65%, Lindt & Spruengli closed lower by 1.26%, and Kuehne + Nagel lost 1.06%.
Geberit, SIG Group, Nestle and Swatch Group also closed notably lower.
At the Davos forum, Swiss National Bank Chairman Martin Schlegel reportedly told Reuters that the central bank still has some room to lower interest rates further, even below 0%, if Switzerland's inflation rate drops too far. Currently, the SNB's policy rate stands at 0.5%.
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