On Monday, the Swiss market initially showed a slight decline but gradually recovered throughout the day and concluded with strong gains, with several stocks posting solid increases in the final hour.
The positive sentiment was bolstered by last week's data indicating a significant rise in Swiss industrial output and increasing optimism about a potential interest rate cut by the Federal Reserve in September.
The benchmark Swiss Market Index (SMI) closed with an increase of 86.51 points, or 0.71%, at 12,275.24. After dipping to 12,167.45 during early trading, the index reached a high of 12,296.22.
Richemont saw an approximate gain of 2.2%. Partners Group and Holcim each advanced by nearly 2%. Holcim's upward movement was particularly supported by Deutsche Bank upgrading the stock's rating from "hold" to "buy" and raising its price target from 81 francs to 91 francs.
Straumann Holding ended with a 1.76% increase, while Geberit, Sandoz Group, SIG Group, Vat Group, and ABB posted gains ranging from 1.1% to 1.5%.
SGS, Alcon, Sika, Novartis, Lonza Group, Swiss Life Holding, Swiss Re, and Schindler Ps closed with moderate gains.
In contrast, UBS Group, Julius Baer, and Lindt & Sprüngli ended the trading session weaker.
