FX.co ★ Swiss Market Ends Slightly Higher

The Swiss market closed slightly higher on Thursday after spending a significant portion of the day's session well above the baseline. Investors evaluated the most recent European economic data while responding to various earnings reports and corporate updates.

The Swiss Market Index (SMI), which climbed to 12,016.03 by mid-afternoon, closed with a modest gain of 8.08 points or 0.07%, ending at 11,966.75.

VAT Group experienced almost a 5% surge. Julius Baer saw a 3.2% increase following the announcement of a 10% year-to-date growth in assets under management as of April 30, 2024, coupled with a notable revival in client activity after a multi-year low in the latter half of 2023.

Sonova, Logitech International, ABB, and SGS recorded gains ranging from 1.7% to 2%. Additionally, Givaudan, Swiss Life Holding, UBS Group, and Richemont rose by 1% to 1.5%.

Galenica Santé appreciated by 1.62%. The company reaffirmed its annual sales growth target of 3% to 5% after reporting a 4.8% year-over-year increase in sales for the first four months, amounting to 1.26 billion francs.

On the downside, Nestle fell by 1.85%. Lindt & Sprüngli, Kuehne & Nagel, Swisscom, and SIG Group decreased by 0.6% to 1%. Novartis slipped by 0.4%.

ams OSRAM AG dropped by 3.2%. Avolta closed 2.43% lower, and Tecan Group declined by 1.37%.