Swiss Market Ends Slightly Higher

(RTTNews) - The Switzerland stock market ended marginally up on Monday after holding in positive territory right through the day's session, amid optimism about economic growth.

The benchmark SMI ended with a gain of 14.17 points or 0.12% at 12,074.81.

Swiss Re gained about 2% after the company said that it expects insurance market premium growth to continue. Non-life insurance premiums are expected to be 10% higher than the pre-COVID-19 level by the end of 2021, reaching $6.9tn, and surpass $7tn in 2022 for the first time ever, Swiss Re said.

Credit Suisse, Swiss Life Holding, UBS Group and Holcim climbed 1.2 to 1.5%.

Zurich Insurance Group ended up 1.1%. Alcon gained nearly 1%, while Swisscom and Sika gained 0.76% and 0.62%, respectively.

Swatch Group declined 1.4%, while Lonza Group, Roche Holding and Richemont lost 0.5 to 0.73%.

Among the stocks in the Mid Price Index, Tecan Group and Logitech lost 2.62% and 2.4%, respectively. Temenos Group declined 2.16%, while Vifor Pharma, Straumann Holding and Sonova lost 0.8 to 1%.

Dufry gained 2.75%, Helvetia climbed 2.3% and Swiss Prime Site gained 2.15%. Lindt & Spruengli, OC Oerlikon Corp, PSP Swiss Property, Baloise Holding, Julius Baer, Flughafen Zurich and SIG Combibloc gained 1 to 2%.

Meanwhile, Switzerland has tightened curbs on public life. The Swiss government now requires people to show a Covid certificate to access indoor spaces like restaurants, bars and museums in order to quash a fourth wave of infections that is putting pressure on hospitals.