FX.co ★ Swiss Market Ends On Firm Note On Positive Global Cues

On Friday, the market in Switzerland closed on a robust note, benefiting from upbeat global indicators resulting from healthy quarterly earnings reported by US tech giants, Microsoft and Alphabet. The prevalent positivity throughout the session led the benchmark SMI close with a 0.74% or an 83.71 increase, standing at 11,344.32. Throughout the session, the index fluctuated between an 11,294.67 low and an 11,360.42 high.

Among the companies that witnessed substantial growth were Straumann Holding and Sika with a nearly 3.5% and 3.04% increase respectively. Meanwhile, Lonza Group, VAT Group, and Geberit experienced gains ranging between 2.5% and 2.7%. Further, Sonova witnessed a 2.1% rise.

Among other companies that experienced growth between 0.9% and 2% were Julius Baer, Kuehne & Nagel, Holcim, Richemont, Roche Holdings, SGS, Partners Group, ABB, Schindler Ps, Givaudan, and Swiss Life Holding.

However, not all companies saw an increase. The Sandoz Group, for instance, saw a decline by 2.3%. At the same time, SIG Group, Zurich Insurance Group, Novartis, and Swisscom ended the session with a decrease between 0.3% and 0.7%.

ams OSRAM AG, after reporting a more significant loss than expected in the first quarter, ended the day with a slight decrease.