Swiss Market Ends On Positive Note

(RTTNews) - Despite spending much of the day's session in negative territory, the Switzerland stock market ended modestly higher on Thursday thanks to some brisk buying at select counters in the final hour.

The mood in the market remained cautious amid concerns about rising coronavirus cases in the country, and on worries about the impact of the pandemic on economic recovery.

The benchmark SMI, which drifted down to 12,449.19 earlier in the session, ended the day with a gain of 35.01 points or 0.28% at 12,560.70.

Logitech rallied 2.5%. Partners Group climbed 1.58%, while ABB and Sika gained 1.15% and 1.08%, respectively. Nestle, Holcim, Credit Suisse and Alcon gained 0.6 to 0.9%.

SGS ended lower by 2.61%. Swiss Life Holding closed lower by 1.18%, while Swiss Re, Roche Holding and Novartis declined marginally.

Among the stocks in the Mid Price Index, Zur Rose gained nearly 5.5% on strong quarterly earnings. The company announced that external revenue rose to CHF 2,034.1 million, equivalent to growth of 15.5% in Group currency terms or 14.8% in local currency terms.

SIG Combibloc, Dufry, Kuehne & Nagel, AMS and Galenica Sante gained 2 to 2.52%.

Tecan Group, Clariant, BB Biotech, Georg Fischer, Sonova, Julius Baer, PSP Swiss Property and Schindler Ps gained 1 to 1.75%.

Adecco ended 1.85% down and Lindt & Spruengli Part declined 1.1%. Barry Callebaut drifted down 0.72%.