Swiss Market Ends On Firm Note On Positive Global Cues

(RTTNews) - The Switzerland stock market ended on a firm note on Friday, tracking gains in markets across Europe, amid hopes that U.S. inflation would start trending lower in the coming months.

The benchmark SMI, which climbed to 10,460.11, ended the session with a gain of 101.44 points or 0.99% at 10,329.34.

Lonza Group gained about 3.1%, Alcon and Swiss Re, both gained nearly 3%, Sonovia advanced 2.35%, Givaudan climbed 2.15% and Sika surged about 2.1%.

Geberit, Zurich Insurance Group, Swiss Life Holding and Roche Holding gained 1.2 to 1.7%.

Credit Suisse drifted down 1.16%. Holcim and ABB posted moderate losses, while UBS Group edged down marginally.

In the Mid Price Index, Belimo Holding, Bachem Holding, Swiss Prime Site, PSP Swiss Property, Kuehne & Nagel, SGS and Tecan Group gained 2 to 4%.

Schindler Ps surged nearly 2%. Helvetia, Galenica Sante, VAT Group, Adecco, Schindler Holding, Baloise Holding and Lindt & Spruengli gained 1.4 to 1.8%.

Temenos Group shares tanked nearly 19% after the banking software group slashed its 2022 guidance.

AMS declined 3.7% and Swatch Group ended lower by about 1.3%.