Swiss Market Ends On Bright Note

(RTTNews) - Swiss stocks turned in a fine performance on Tuesday on positive cues from other major markets in the region, and on hopes major central banks will start reducing rates sometime in the foreseeable future.

The benchmark SMI, which stayed firm right through the day's session, settled with a gain of 141.38 points or 1.25% at 11,46915. The index climbed to a high of 11,515.09 in early afternoon trades, but pared some gains as the day progressed.

Lonza Group rallied nearly 4%. Partners Group gained about 3.25%, while VAT Group, Swiss Re, Roche Holdings and Julius Baer climbed 2.1 to 2.7%.

Novartis gained 1.81% after the company raised its full-year guidance, citing momentum in its business and pipeline. The company said it expects net sales growth in high-single to low-double-digit from the previous forecast of a mid-single-digit increase.

Swiss Life Holding, Holcim, Richemont, Lindt Spruengli, UBS Group, Geberit and Straumann Holding ended higher by 1.3 to 2%.

Logitech International, ABB, Schindler Ps, Givaudan, Alcon, SIG Group and Sonova posted moderate gains.

Kuehne & Nagel dropped nearly 5% after the company reported a 40% decline in its first-quarter earnings.

Sandoz Group drifted down 1.4%. SGS and Swisscom ended lower by 0.9% and 0.77%, respectively.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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