The Swiss stock market closed moderately higher on Monday, remaining buoyant throughout the trading session, influenced by positive signals from other regional markets.
Investors were active, purchasing stocks in anticipation of significant economic data releases, including a forthcoming report on Swiss inflation.
The benchmark Swiss Market Index (SMI) recorded an increase of 55.78 points, or 0.47%, closing at 12,049.61. The index reached a peak of 12,103.30 and a low of 12,022.16 during the session.
UBS Group rose by 2%, following the announcement of the completed merger between its UBS Switzerland unit and Credit Suisse (Schweiz), a pivotal step in the group's integration process with Credit Suisse.
Julius Baer ended the session with a 1.67% gain, while Swiss Life Holding, SIG Group, Straumann Holding, and Kuehne+Nagel each saw gains ranging from 1.2% to 1.3%.
Additionally, Givaudan, Sonova, ABB, Swiss Re, Zurich Insurance, Swisscom, Lindt & Sprüngli, Novartis, and Swatch Group advanced between 0.5% and 1%.
Nestlé, after an initial rally, closed slightly higher. Reports suggested that the Swiss food giant is expecting stable growth with positive contributions from both volume and product mix starting from the second quarter through the end of the year.
Conversely, Sika, VAT Group, Partners Group, and Lonza saw their shares decline by 0.4% to 0.8%. Sandoz Group's shares also decreased by 0.28%. The company announced securing approval from the US Food and Drug Administration for Pyzchiva, applicable to all indications of the reference drug Stelara. Sandoz revealed plans to launch this psoriasis treatment in the US by February 2025.
