(RTTNews) – Despite a weak start and a very brief spell in negative territory around mid afternoon, the Switzerland stock market ended modestly higher on Monday with select counters attracting strong buying interest.
The mood was cautious as weak economic data out of China showing the gloomy impact of the country’s “zero-COVID” policy hurt sentiment.
The benchmark SMI ended with a gain of 21.81 points or 0.19% at 11,672.23, after scaling a low of 11,584.56 and a high of 11,721.57 intraday.
Novartis and Roche Holding gained 1.35% and 1.1%, respectively, contributing significantly to market’s positive close.
Nestle gained about 0.65%, while Givaudan and Richemont posted modest gains.
Partners Group, ABB, Sika and Logitech ended lower by 1.5 to 2%. SGS and UBS Group shed 1.21% and 1.16%, respectively. Geberit, Holcim, Zurich Insurance Group, Lonza Group and Swiss Life Holding lost 0.7 to 1%.
In the Swiss Mid Price Index, Zur Rose plunged nearly 10%. Temenos Group, Swatch Group, AMS and VAT Group lost 2 to 3%, while Cembra Money Bank and George Fisher both ended lower by about 1.1%.
Swiss Prime Site climbed nearly 2%. Adecco gained 1.3%, while PSP Swiss Property, Barry Callebaut, Sonova and BB Biotech gained 0.7 to 1%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
