Swiss Market Ends Notably Higher For 2nd Straight Day
(RTTNews) - The Switzerland stock market ended notably higher on Monday, in line with the trend seen across Europe, with investors looking ahead to the resumption of Sino-U.S. trade talks.
Despite a report in Bloomberg raising doubts about the upcoming talks making any meaningful progress, the mood in the market was fairly bullish in the session.
The benchmark SMI ended up 86.34 points, or 0.88%, at 9,914.06, after scaling a low of 9,829.20 and a high of 9,931.13 in the session.
On Friday, the SMI ended up 67.28 points, or 0.69%, at 9,827.72. Earlier last week, the index shed a total of 3.25% in two sessions, before edging up marginally on Thursday.
Sika, the biggest gainer in the SMI index, advanced 3.6%. Zurich Insurance Group, Swiss Re, LafargeHolcim and Givaudan ended higher by 1 to 1.3%.
Roche Holding, Novartis, Nestle, Alcon, Lonza Group, Credit Suisse, Adecco and Swiss Life Holding gained 0.5 to 1%.
In the midcap space, Vifor Pharma gained 5%. Straumann Holding and Dufry ended higher by 2.35% and 2.25%, respectively.
Barry Callebaut, Ems Chemie Holding, Helvetia, Bucher Industries, Baloise Holding, Temenos, PSP Swiss Property, Logitech International and Dorma Kaba Holding gained 1 to 1.8%.
AMS declined nearly 1% after the group failed in its 4.5 billion euro ($4.9 billion) takeover attempt of Osram. The group said it would still explore strategic options to pursue an acquisition of the German lighting group.
Among other major markets in Europe, The U.K., Germany and France ended on a bright note with their benchmarks gaining 0.59%, 0.7% and 0.61%, respectively. The pan European Stoxx 600 ended up 0.71%.