The Swiss market closed strongly on Tuesday, driven by robust results and hopes for interest rate cuts, encouraging widespread buying.
The primary SMI index increased by 183.31 points, or 1.64%, closing at 11,512.97, just slightly under the day's high of 11,526.26. After two quarters of losses, UBS Group shares escalated by about 7.6%, as the bank reported a first-quarter net profit of US$1,755 million, a significant turnaround from the net loss of US$279 million in the previous quarter. In the same timeframe in 2023, the lender had posted a net profit of US$1,029 million.
Shares in Geberit increased by 4.7%, while Givaudan, Novartis, Partners Group, SIG Group, Roche Holdings, Sonova, Sika, Straumann Holdings, and Lindt Spruengli all experienced gains between 1.4 and 2.1%.
Zurich Insurance Group, Alcon, Swiss Life Holding, Julius Baer, Logitech International, Swiss Re, and Nestle also posted substantial gains.
On the downside, Sandoz Group's shares fell by 2.52%. Swatch Group saw a modest decline, with SGS's shares remaining flat.
