The Swiss market concluded the week on a high note, marking an upward movement for the third consecutive session. This positive trend was bolstered by promising economic data from Europe and the U.S., coupled with growing optimism about potential interest rate cuts.
The Swiss Market Index (SMI) saw an increase of 18.87 points, or 0.15%, ending at 12,436.59. Throughout the session, the index fluctuated within a narrow range of 12,417.72 to 12,483.57.
Among individual stocks, SIG Group advanced by nearly 2.5%, while Lindt & Sprüngli appreciated close to 2%. Other notable gainers included Geberit, Roche Holdings, Roche GS, Richemont, Swisscom, Sandoz Group, Swiss Life Holding, Sika, ABB, and Holcim, which posted gains between 0.4% and 0.9%.
Conversely, VAT Group declined by approximately 1.4%, and Logitech International fell by 0.75%. Swiss Re, Givaudan, UBS Group, and Julius Baer registered losses ranging from 0.3% to 0.4%.
EMS-Chemie Holdings closed down by 0.6%, impacted by a decline in net sales for the first half. Nonetheless, the company did report a significant increase in net income for the same period.
On the economic front, the Swiss Economic Institute (KOF) reported that the Economic Barometer in Switzerland rose to 101.6 in August 2024, compared to a revised figure of 100.6 in July.
