Swiss Market Closes Higher On Encouraging Jobs Data

(RTTNews) - The Switzerland stock market ended modestly higher on Thursday, bucking the largely negative trend in Europe, thanks to data showing non-farm payrolls employment in the country rose for the first time since the first quarter of 2020.

The market, which recovered after a weak start, briefly slipped into the red around late morning, but swiftly emerged higher and stayed positive till the end of the session.

The benchmark SMI ended with a gain of 44.46 points or 0.36% at 12,409.03. The index, which edged down to 12,329.77 in early trades, rose to a high of 12,424.25 past mid afternoon.

Roche Holding, Alcon and Geberit gained nearly 1%. Sika climbed 0.73%, ABB gained 0.67% and Novartis ended 0.5% up. Holcim and Nestle both gained nearly 0.5%.

Credit Suisse, Lonza Group, Partners Group, UBS Group, Zurich Insurance Group and Swiss Re lost 0.4 to 0.83%.

Among the stocks in the Swiss Mid Price Index, Galenica Sante and VAT Group moved up 1.4% and 1.1%, respectively. Schindler Holding, Lindt & Spruengli, Schindler Ps, Vifor Pharma and Adecco gained 0.5 to 0.84%.

AMS and Dufry declined 2.07% and 1.94%, respectively. Cembra Money Bank shed about 1.25% and Baloise Holding lost 0.85%.

Data from Swiss Federal Statistical Office showed non-farm payrolls in the country increased by 0.6% year-on-year to 5.126 million in the second quarter of 2021, after a 0.6% decline in the previous three-month period.

Payrolls in services rose 1.1% to 4.043 million, while employment in the industrial sector fell 1.2% to 1.083 million, the data showed.