Swiss Market Ends Higher For 5th Straight Day

(RTTNews) - Save for a few minutes at the start and then around mid-morning, the Switzerland stock market stayed firm on Thursday as data showing an acceleration in Swiss exports, and hopes for progress in Russia-Ukraine peace talks helped underpin sentiment.

The benchmark SMI ended with a strong gain of 160.91 points or 1.35% at 12,061.87, the day's high.

Sika, up 2.88%, was the top gainer in the SMI Index. Givaudan rallied 2.62%, while Partners Group, Alcon, Nestle and SGS gained 2 to 2.15%.

Lonza Group, Richemont, Novartis, Geberit, ABB, Swiss Life Holding, Swisscom and Zurich Insurance Group moved up 1.1 to 1.7%. Credit Suisse and Logitech declined 0.95% and 0.5%, respectively.

In the Mid Price index, Tecan Group climbed up 3.6%. BB Biotech and VAT Group gained 2.15% and 2.03%, respectively, while Swiss Prime Site, PSP Swiss Property and Helvetia gained 1.4 to 1.7%.

Lindt & Spruengli Part declined more than 3%. Dufry, Adecco and Schindler Ps shed 1.7 to 2%, while Cembra Money Bank, Lindt & Spruengli N, Sonova and Schindler Holding ended lower by 1 to 1.3%.

Data from the Federal Customs Administration showed Switzerland's exports grew for a second straight month and at a faster pace of 8.1% in February following a 2% rise in January.

Imports decreased 0.9% monthly in February, after a 0.4% increase in the previous month. In nominal terms, exports grew 15.4% in February and imports decreased 2.9%, the data showed.

The trade surplus increased to CHF 5.702 billion in February from CHF 1.950 billion in January.

According to the Federation of the Swiss Watch Industry, the watch exports grew 24.4% year-on-year in February.