Swiss Market Ends On Firm Note
(RTTNews) - The Switzerland stock market ended on a firm note on Friday, in line with the positive trend seen across Europe despite the U.S. decision to increase tariffs on over $200 billion worth of Chinese goods and China's statement that it will retaliate with sanctions on U.S. goods.
The benchmark SMI ended up 42.53 points, or 0.45%, at 9,472.83. The index touched a high of 9,545.06 and a low of 9,451.18 in the session.
On Thursday, the SMI ended with a loss of 191.66 points, or 1.99%, at 9,430.30, slightly off the day's low of 9,422.37.
Alcon ended more than 3% up. LafargeHolcim gained about 2.8% after the company agreed to sell its operations in the Philippines in a deal which values the business at $2.15 billion.
Sika ended 1.3% up and Lonza Group advanced by 1.1%. Adecco, Zurich Insurance Group, Richemont and Nestle also ended on a firm note.
ABB gained 1.1% after the company won a multi-million order from the Aibel/Keppel FELS consortium.
Among the other major markets in Europe, Germany ended on a strong note, with its benchmark DAX rising 0.72%. France's CAC 40 ended 0.27% up, while the U.K.'s FTSE 100 edged down by 0.06%. The pan European Stoxx 600 ended up 0.32%.
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