Swiss Market Ends Slightly Higher

(RTTNews) - The Switzerland market ended slightly up on Thursday after spending much of the day's session fairly well above the flat line.

Investors assessed the latest batch of European economic data, reacted to earnings and other corporate updates.

The benchmark SMI, which advanced to 12,016.03 around mid afternoon, ended with a small gain of 8.08 points or 0.07% at 11,966.75.

VAT Group rallied nearly 5%. Julius Baer gained 3.2% after reporting a 10% year-to-date growth in assets under management as of April 30, 2024, alongside a significant recovery in client activity from the multiyear lows in the second half of 2023.

Sonova, Logitech International, ABB and SGS advanced 1.7 to 2%. Givaudan, Swiss Life Holding, UBS Group and Richemont ended higher by 1 to 1.5%.

Galenica Sante gained 1.62%. The company confirmed its sales growth target of 3% to 5% for the year after its four-month sales rose 4.8% year over year to 1.26 billion francs.

Nestle drifted down 1.85%. Lindt & Spruengli, Kuehne & Nagel, Swisscom and SIG Group lost 0.6 to 1%. Novartis ended lower by 0.4%.

ams OSRAM AG ended down 3.2%. Avolta closed lower by 2.43%. Tecan Group dropped 1.37%.