Swiss Market Closes Modestly Higher

(RTTNews) - The Switzerland market ended modestly higher on Friday after a choppy ride as investors looked ahead to more interest rate cuts from central banks after the European Central Bank cut rates for the third time this year.

The benchmark SMI ended with a gain of 22.49 points or 0.18% at 12,326.76 after moving between 12,280.52 and 12,348.16.

Swatch Group climbed 2.2%. Straumann Holding, Adecco, Geberit and VAT Group ended up 1.4 to 1.6%. Logitech International, UBS Group and Julius Baer gained 1 to 1.1%.

Lindt & Spruengli, Richemont, Roche Holding, SIG Group, Partners Group, Kuehne + Nagel and Givaudan posted moderate gains.

Comet gained about 4.3%, riding on a 45.6% year-over-year surge in third-quarter net sales to 113.2 million francs. The company expects full-year 2024 net sales to be at the lower end of its 440 million francs to 480 million francs guidance range.

ABB drifted down 1.59%. SGS closed down 0.68%, while Sonova and Swiss Life Holding recorded modest losses.