Swiss Market Closes On Bright Note

(RTTNews) - The Switzerland stock market ended on a bright note on Monday, tracking positive global cues after reports indicated that the Omicron variant of the coronavirus is unlikely to any significantly impact the global economy.

According to reports there are indications the new strain causes milder symptoms. Meanwhile, U.S. President Joe Biden's chief medical adviser Dr Anthony Fauci told CNN it is too early to make definitive statements but early signals regarding the severity of Omicron are "encouraging."

The benchmark SMI, which stayed positive right through the day's session, ended with a strong gain of 199.58 points or 1.64% at 12,375.35, after climbing to a high of 12,407.99.

Holcim, ABB, Nestle, Swiss Life Holding and SGS gained 2.3 to 2.75%.Alcon gained 2.22%, while Sika and Givaudan moved up 2.1% and 2%, respectively.

Geberit gained nearly 2%. UBS Group and Zurich Insurance Group climbed 1.8% and 1.75%, respectively. Roche Holding, Novartis, Swiss Re, Richemont, Credit Suisse and Logitech gained 1.2 to 1.5%.

Lonza Group shares declined by about 1.7%.

In the Mid Price Index, Dufry rallied 5.8%, while Julius Baer, Cembra Money Bank, Adecco and Flughafen Zurich gained 2.9 to 3.2%.

Ems Chemie Holding, Georg Fischer, Helvetia, Clariant, Baloise Holding, OC Oerlikon Corp, Lindt & Spruengli, AMS, PSP Swiss Property, Schindler Holding and Straumann Holding also rallied sharply.

Zur Rose ended lower by about 3.7%. Tecan Group declined 2.8%, while Temenos Group and BB Biotech shed 1.4% and 1.25%, respectively.

In Switzerland, multiple cases of the new Omicron variant of Covid 1- have been reported. Meanwhile, new measures aimed at strengthening the fight against the coronavirus have come into force effective today. The measures include expanding the requirement to wear masks and to produce a certificate to prove vaccination, virus negative results or proof of recovery from the virus.