Swiss Market Ends Modestly Higher

(RTTNews) - The Switzerland market started off on a sluggish note Monday morning, but steadied and stayed firm thereafter to eventually end the day's session modestly higher, in line with markets across Europe.

Despite worries about tariffs, the mood remained a bit positive as major European markets climbed higher with defense stocks hogging the limelight as European leaders convened a meeting in Paris for talks on increasing defense expenditure to ramp up regional security.

The benchmark SMI closed up 35.21 points or 0.27% at 12,875.08, after moving in a tight range between 12,831.39 and 12,881.26.

Straumann Holding, ABB, Swiss Life Holding and Lonza Group gained 1 to 1.3%. UBS Group, Zurich Insurance Group, Holcim, Swiss Re, Alcon, Novartis and Julius Baer closed higher by 0.3 to 0.85%.

Shares of dermatology company Galderma climbed about 1.7%, lifted by an announcement that the company has obtained the UK medicines regulator's approval for Nemluvio to treat moderate-to-severe prurigo nodularis and atopic dermatitis.

Sandoz Group ended down 3.7%. Sonova closed lower by 1.19%. Swisscom, SGS, Sika, Schindler Ps, Swatch Group and Givaudan also ended weak.