Swiss Market Ends On High Note Again

(RTTNews) - The Switzerland stock market closed on a strong note for a second straight day, as investors indulged in some strong buying at several counters on Tuesday, amid easing concerns about the impact of the Omicron variant of the coronavirus on global economic recovery.

Data showing a drop in Swiss jobless rate further aided sentiment.

The benchmark SMI ended with a gain of 138.27 points or 1.12% at 12,513.62, after climbing to a high of 12,531.71 in the closing minutes.

Richemont shares gained 5.3%. Logitech climbed 4.4%, while Lonza Group, Geberit, Partners Group and Alcon gained 2.6 to 3.5%.

Givaudan and Sika both ended stronger by nearly 2%. SGS, UBS Group and Holcim gained 1.4 to 1.6%.

ABB ended nearly 1% up after unveiling higher sales and profitability targets.

Among the stocks in the Swiss Mid Price Index, VAT Group gained about 7%. Tecan Group, Straumann Holding, Dufry and SIG Combibloc gained 5 to 5.5%.

AMS, Swatch Group, Temenos Group, BB Biotech, Kuehne & Nagel, Zur Rose and Sonova ended higher by 3 to 4.5%. Sonova, Schindler Holding, Ems Chemie Holding, Cembra Money Bank and Schindler Ps also rallied sharply.

Data from the State Secretariat for Economic Affairs showed Switzerland's jobless rate decreased November, falling to 2.5% (seasonally adjusted), from 2.7% in October. On an unadjusted basis, the unemployment rate was 2.5% in November, same as in the previous month.

The number of registered unemployed declined to 116,244 in November from 116,733 in the preceding month.

The unemployment rate among the youth aged between 15 and 24, decreased to 2% in November from 2.1% in the prior month.