The Switzerland market concluded positively on Monday, with an upward trend for a second continuous session, thanks to the optimistic views that several major central banks, including the Federal Reserve and the European Central Bank, will soon initiate a reduction in interest rates.
The key Swiss Market Index (SMI), which surged to 11,381.81, wrapped up the trading day with an increase of 54.71 points or 0.49%, settling at 11,327.66.
Tech company Logitech International saw a near increase of 2.5%. Swiss Re, a leading wholesale provider of reinsurance, insurance and other insurance-based forms of risk transfer, witnessed a nearly 2% rise. Sanitation provider Geberit marked around an increase of 1.8%, Zurich Insurance Group boosted by 1.59% and life insurance company Swiss Life Holding rose by 1.51%.
LafargeHolcim, the world's largest cement manufacturer, along with UBS Group, transport company Kuehne & Nagel, automation corporation ABB, and financial institution Julius Baer, noted gains ranging from 1 to 1.28%. Private markets investment manager Partners Group, elevator manufacturer Schindler, and healthcare company Roche Holdings also marked moderate expansions.
Electricity provider Avolta, digital personal assistance service Helvetia, optical manufacturers ams OSRAM AG, vehicle components supplier Georg Fisher, and energy service provider BKW also finished with gains.
Food packaging business SIG Group saw a slight decline of about 1.39%. Meanwhile, food and drink conglomerate Nestle, watch manufacturer Swatch Group, and chemicals and biotechnology company Lonza Group ended with minor declines.