Swiss Market Ends On Buoyant Note

(RTTNews) - The Switzerland market ended on a buoyant note on Monday, in line with markets across Europe, as investors went for some bargain hunting, shrugging off concerns about inflation and economic slowdown.

The benchmark SMI, which opened with a strong positive gap, stayed firm right through the session and ended with an impressive gain of 157.30 points or 1.39% at 11,466.28, the day's high.

Credit Suisse and UBS Group gained 3.31% and 3.19%, respectively. Partners Group rallied 2.6% and Swiss Life Holding climbed nearly 2%.

Zurich Insurance Group, Givaudan, Sika, Roche Holding and ABB moved up 1.4 to 1.8%. Nestle, Holcim, Geberit and Novartis ended higher by 1.1 to 1.3%. Lonza Group ended nearly 1% up.

Among the stocks in the Swiss Mid Price Index, Julius Baer and SIG Combibloc gained 3.3% and 3.2%, respectively.

Dufry, Helvetia, Kuehne & Nagel, VAT Group, Adecco, Schindler Holding, BB Biotech, AMS, Baloise Holding, Schindler Ps and Cembra Money Bank advanced 1.6 to 2.6%. Flughafen Zurich and Lindt & Spruengli gained 1.46% and 1.29%, respectively.

Bachem Holding drifted down 1.66%. Tecan Group and Zur Rose both shed about 1.05%. Swiss Prime Site declined 0.65%.