Swiss Market Ends On Positive Note

(RTTNews) - Despite a couple of setbacks, once around mid morning, and another just before the final hour of the day's session, the Switzerland market ended modestly higher on Monday.

Fading optimism about early interest rate cut by the Federal Reserve weighed on sentiment, but the market still managed to sign off on a positive note thanks to some strong buying at a few frontline counters.

The benchmark SMI ended with a gain of 34.79 points or 0.31% at 11,274.47, after moving between 11,227.45 and 11,295.09.

Lonza Group climbed nearly 3.25%. Alcon, Swiss Re and Nestle gained 1.5 to 1.61%, while Kuehne & Nagel advanced 1.36%.

Zurich Insurance Group, Logitech International, Novartis, Givaudan and Sonova gained 0.4 to 0.8%.

Roche Holding ended down 1.5%. ABB drifted down by about 1.25%, while Swisscom and UBS Group closed lower by about 0.8% and 0.6%, respectively.

Among the stocks in the Mid Price Index, Galenica Sante, Sandos, Flughafen Zurich, Barry Callebaut, Straumann Holding, VAT Group, Avolta and Clariant gained 1 to 1.5%, while Lindt & Spruengli ended nearly 1% up.

BKW and Belimo Holding ended lower by 1.66% and 1.63%, respectively. Schindler Holding drifted down 1.16%. Schindler Ps, Georg Fischer, Adecco, Meyer Burger Tech and Swatch Group lost 0.6 to 1%.