On Friday, the Swiss market closed on a robust note, as stocks continuously advanced throughout the session due to persistent buying interest and expectations that several central banks might soon begin reducing interest rates.
The benchmark SMI surged by 130.96 points, or 1.1%, to close at 12,000.86.
Leading the gains were Swiss Re and Novartis, which rose by 2.27% and 2.13%, respectively. Kuehne & Nagel added 1.71%, while Swisscom, Nestlé, Swatch Group, and UBS Group climbed between 1.35% and 1.6%.
Other notable performers included Roche Holdings, Sandoz Group, and Swiss Life Holding, each advancing between 1% and 1.2%. Zurich Insurance Group, Richemont, Givaudan, and SGS also posted significant gains.
Conversely, Sika, SIG Group, Geberit, and Holcim dipped between 1% and 1.27%, with Straumann Holding and Lonza Group also closing in the red.
Meyer Burger Technology suffered a sharp decline, plummeting nearly 8%, while Belimo Holding fell by 2.64%. Additionally, Georg Fischer and Barry Callebaut ended down slightly over 1%.
Economic data from the Federal Statistical Office revealed that retail sales in Switzerland increased by 2.7% year-on-year in April, bouncing back from an upwardly revised 0.2% decline in March. On a month-over-month basis, retail sales rose by 0.2% in April, recovering from a downwardly revised 0.3% drop in the previous month.
