Swiss Market Ends On Firm Note

(RTTNews) - After a somewhat sluggish start, the Switzerland stock market moved higher on Friday to eventually close on a firm note, in line with markets across Europe, as optimism about some progress in Russia-Ukraine talks helped underpin sentiment.

The benchmark SMI ended with a gain of 104.59 points or 0.92% at 11,495.69. The index climbed to a high of 11,674.05 a little past noon, but pared a significant portion of its gains as the session progressed.

Swiss Life Holding surged up 3.7%. Credit Suisse and Zurich Insurance Group both gained nearly 2.5%. UBS Group, Holcim, Sika, Swiss Re, Geberit and Alcon gained 1.5 to 2%, while Logitech and Novartis closed stronger by 1.3% and 1.2%, respectively.

Lonza Group, Roche HOlding, ABB and SGS gained 0.8 to 1%. Givaudan shed 1.48%, while Nestle and Swisscom closed with modest losses.

In the Swiss Mid Price Index, Cembra Money Bank climbed nearly 4%. Julius Baer, Dufry, Helvetia, Baloise Holding, Temenos Group, AMS, BB Biotech, Flughafen Zurich, Sonoca and OC Oerlikon Corp gained 1.8 to 3.4%.

Zur Rose ended 2.8% down, Galenica Sante drifted down 1.1% and Swatch Group shed about 0.9%.