The Swiss market ends on a firm note
(RTTNews) – The Swiss stock exchange closed on a firm note Tuesday, in line with European markets, as concerns about growth faded somewhat after a report from Moderna Inc. said the lab test a booster dose of its Covid-19 vaccine has been shown to be effective against the Omicron variant.
Data showing a jump in Swiss exports in November also contributed to the positive sentiment in the market.
The benchmark SMI, which climbed to 12,706.86 in early trading, ended with a gain of 92.64 points or 0.74% to 12,682.53.
Credit Suisse climbed more than 3.5%. Logitech, UBS Group, Swiss Re, Zurich Insurance Group, Holcim and ABB gained 1.6-2.2%.
Swiss Life Holding gained around 1.4%, while Partners Group, Roche Holding, Novartis, Richemont and Swisscom gained 0.8 to 1.2%.
The Lonza Group fell around 1.2% and Givaudan closed down almost 1%.
Among stocks in the Swiss Mid Price Index, Dufry gained around 4.25%, Straumann Holding climbed almost 4% and Julius Baer gained 3.1%. Flughafen Zurich, Baloise Holding, Sonova, Helvetia, OC Oerlikon Corp, Adecco and Lindt & Spruengli finished up 1.5 to 2.15%.
Zur Rose plunged 16%. Tecan group shares closed down around 1.6%.
Data from the Federal Customs Administration showed that Switzerland’s exports rose 1.6% in real terms in November, after falling 2.1% in October.
Exports of chemicals and pharmaceuticals grew 3% per month in November, while imports rose 4.3% per month in November, after falling 4.5% the month before.
In nominal terms, exports increased by 4% in November and imports by 5.6%.
The trade surplus increased to reach 4.217 billion francs in November, against 4.303 billion francs in October.
According to the Federation of the Swiss Watch Industry, watch exports rose 8.6% year-on-year in November.
Meanwhile, the number of new daily Covid infections has slowed in recent days, health officials said on Tuesday. However, officials advised caution before the possible rapid spread of the new Omicron variant.
“The short-term positive development in the number of cases is therefore more of a calm before another possible storm,” said Patrick Mathys of the Federal Office of Public Health.
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