Swiss Market Closes Modestly Higher

(RTTNews) - The Switzerland market closed modestly higher on Thursday, staying positive right through the day's session, amid hopes global central banks will reduce interest rates further to boost growth.

The benchmark SMI, which moved in a tight range between 12,169.08 and 12,224.63, ended with a gain of 25.94 points or 0.21% at 12,173.04.

Swatch Group and Lonza Group climbed 2.85% and 2.78%, respectively. Richemont, Straumann Holding and Kuehne + Nagel gained 1.75 to 1.9%.

Swiss Life Holding, SGS, Adecco, VAT Group and Roche Holding advanced 0.9 to 1.3%. UBS Group climbed about 0.7%.

SIG Group, Sonova and Sandoz Group lost 1.37%, 1.17%, and 1.05%, respectively. Schindler Ps, Givaudan, Nestle, Logitech International, Julius Baer and Novartis also closed weak.