Swiss Market Ends On Firm Note

(RTTNews) - After opening weak and moving along the unchanged line till about mid afternoon, the Switzerland market began edging up on Monday to eventually end the day's session notably higher.

The benchmark SMI, which touched a low of 11,048.01 a little past noon, ended up 58.59 points or 0.53% at 11,130.36.

ABB climbed 2.78% and Kuehne & Nagel gained 2.18%. Richemont advanced nearly 1.5%, while Alcon, Logitech International and Novartis gained 1 to 1.1%.

Givaudan and Sika, both gained nearly 1%. Swiss Life Holding, Partners Group, Geberit and Roche Holding posted modest gains.

Lonza Group declined 1.28%. Nestle, Zurich Insurance Group and Sonova ended modestly lower.

In the Mid Price Index, Tecan Group and Avolta both gained about 2.5%. Galenica Sante, Belimo Holding and Swatch Group gained 1.55%, 1.5%, and 1.18%, respectively.

BKW, Ems Chemie Holding, PSP Swiss Property, SGS and Georg Fischer ended higher by 0.5 to 1%.

Meyer Burger Tech tanked 12.8%. ams OSRAM AG shares ended lower by nearly 2.5%. Hevetia, Julius Baer, Lindt & Spruengli and Flughafen Zurich lost 0.6 to 1%.

Basilea Pharmaceutica climbed 4% after its license partner Astellas Pharma US, Inc. received the U.S. FDA approval for expanded use of antifungal Cresemba (isavuconazole) in children with invasive aspergillosis and invasive mucormycosis.