Swiss Market Ends On Buoyant Note

(RTTNews) - The Switzerland stock market ended on a buoyant note on Tuesday, gaining ground consistently after a marginally positive start.

The benchmark SMI ended with a gain of 127.35 points or 1.16% at 11,103.55, after climbing to a high of 11,120.88.

Novartis shares climbed about 4.65% after the company raised its full-year earnings guidance and mapped out the planned spin-off of its generic medicines division Sandoz for early in the fourth quarter.

Richemont gained 2.65% and Lonza Group advanced 1.8%. UBS Group ended higher by 1.02%, while Partners Group, Geberit, Swiss Life Holding, Swiss Re, Sonova and Holcim gained 0.5 to 0.8%.

Swisscom and Nestle ended lower by 0.76% and 0.34%, respectively. Logitech, Alcon and Zurich Insurance Group ended flat.

In the Mid Price Index, Clariant, AMS, Adecco and Straumann Holding gained 2.1 to 2.5%.

PSP Swiss Property, Dufry, Swiss Prime Site, Swatch Group, Tecan Group and Lindt & Spruengli ended higher by 1 to 1.7%.

DocMorris drifted down 1.7%. SGS ended 1.03% down, while Bachem Holding and Belimo Holding lost 0.72% and 0.47%, respectively.