FX.co ★ Swiss Market Ends On Firm Note

The Swiss market closed on a positive note last Friday, buoyed by encouraging earnings updates and reduced concerns over interest rates' future. The benchmark Swiss Market Index (SMI) peaked at 11,335.26 in the mid-afternoon before settling at 11,272.95, a gain of 63.32 points or 0.56%.

Shares in Swiss vacuum valves manufacturer VAT Group surged by 3.14%. Plumbing parts producer Geberit rose by approximately 3%, while luxury goods business Richemont saw an advancement of 2.85%. In addition, construction chemicals producer Sika, Swiss private bank Julius Baer, and global private equity firm Partners Group each ended higher at 2.3%, 2%, and 1.8%, respectively.

Pharmaceuticals company Roche Holdings, elevator manufacturer Schindler Ps, eye care company Alcon, life insurance firm Swiss Life Holding, inspection, verification, testing, and certification firm SGS, Swiss watch manufacturer Swatch Group, multinational finance and services company UBS Group, healthcare company Sonova, and chemicals company Lonza Group saw a growth of between 1 to 1.5%.

Furthermore, high-tech product manufacturer and distributor ams OSRAM AG saw a rally of about 5.2%. Industrial company Georg Fischer gained nearly 3% as well. Insurance company Baloise Holding, solar tech company Meyer Burger Tech, energy solutions provider Avolta, and chocolate manufacturer Barry Callebaut also ended on a notably higher note.

However, not all stocks saw an upward trajectory. Consumer electronics company Logitech International, pharmaceutical giant Novartis, and dental company Straumann Holding ended down between 0.9 to 1.1%. Swiss chocolatier Lindt & Spruengli's shares deviated down by 0.66%.

Overall, it was a positive day on the exchange with 122 stocks closing higher, 84 stocks edging lower, and 21 stocks remaining unchanged out of 227 stocks traded.