Swiss Market Ends On Firm Note

(RTTNews) - The Switzerland stock market closed on a firm note on Monday as investors indulged in fairly strong buying at several counters amid optimism about earnings and growth.

The benchmark SMI ended with a gain of 107.58 points or 0.86% at 12,633.21, after climbing to a high of 12,657.57.

Richemont rallied 3.62%. Lonza Group gained about 2.75%, while SGS, Swiss Re, Sika, Zurich Insurance Group, Alcon, Holcim and Givaudan moved up 1 to 1.4%.

UBS Group, Nestle, Swiss Life Holding, ABB and Roche Holding also ended with solid gains.

Credit Suisse declined 2.25% after Chairman António Horta-Osório quit following an internal probe into his personal conduct.

A statement issued by Credit Suisse quotes Horta-Osório as saying that "a number of my personal actions have led to difficulties for the bank and compromised my ability to represent the bank internally and externally. I therefore believe that my resignation is in the interest of the bank and its stakeholders at this crucial time."

The statement did not reveal the nature of the investigation into Horta-Osório, who only joined the bank last April following a decade at the helm of British bank Lloyds.

In the Mid Price Index, Tecan Group, VAT Group, Schindler Ps and Schindler Holding gained 3 to 3.6%. BB Biotech climbed 2.4% and Swatch Group gained 2.2%.

Ems Chemie Holding, Sonova, Kuehne & Nagel, Adecco, Straumann Holding, Dufry and OC Oerlikon Corp also closed sharply higher.

Zur Rose declined 1.4% and Flughafen Zurich shed 1.17%.