After a relatively weak opening and a prolonged period in the red, the Swiss market bounced back to close marginally up on Thursday, buoyed by robust purchasing across key mainstream stocks.
The benchmark Swiss Market Index (SMI), which initially dipped to 11,470.77, ultimately concluded the trading period at 11,575.37 — a rise of 28.90 points or 0.25%.
Givaudan and Lonza Group saw increments of 2.66% and 2.55% respectively. Meanwhile, Sika, Richemont, and Holcim appreciated between 1.7% and 2.15%.
Sonova and UBS both experienced gains close to 1.25%. Zurich Insurance Group, Roche Holding, Swiss Re, and Partners Group surged between 0.75% and 1%.
On the flip side, Novartis's stock fell by 3.6%, while Swisscom and Swiss Life Holding closed marginally lower.
In the Mid Price Index, VAT Group, Clariant, Tecan Group, and Sandoz improved between 2.9% and 3.7%. Lindt & Sprüngli, SIG Group, Straumann Holding, BKW, Ems Chemie Holding, and Adecco rose from 1.2% to 2.1%.
Meyer Burger Tech experienced a significant plunge of 13%. ams OSRAM AG tumbled by over 7%, while Temenos Group, SGS, and Flughafen Zurich ended slightly lower.
Data from the State Secretariat for Economic Affairs (SECO) indicated that Switzerland's unemployment rate for the first time in four months in February declined, falling to 2.4% from 2.5% in January. The same period last year registered a jobless rate of 2.1%.
Additional data revealed that the seasonally adjusted unemployment rate remained constant at 2.2% in February, repeating its January rate.
