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The Switzerland stock market started off on a slightly sluggish note on Friday, but gained in strength as the session progressed and hit a new record high, and eventually ended on a buoyant note.<\/p>\n
Data showing the country’s economic barometer to have climbed to a new record high in April, and news about re-opening of businesses lifted sentiment.<\/p>\n
The benchmark SMI, which scaled a new peak at 11,443.97, ended the session with a gain of 85.88 points or 0.76% at 11,426.15.<\/p>\n
Swatch Group gained 3.2%. Richemont climbed nearly 2.5% and Alcon ended about 2% up. Lonza Group, Partners Group and UBS Group gained 1.5 to 1.75%.<\/p>\n
Zurich Insurance Group, Geberit, Credit Suisse, Roche Holding, Swiss Life Holding, Sika and Givaudan also closed on firm note.<\/p>\n
Among the stocks in the Swiss Mid Price Index, Tecan Group ended stronger by 3.35%. Sonova, AMS, Temenos Group, BB Biotech, Dufry, Galenica Sante, Vifor Pharma, Julius Baer, Adecco and Logitech gained 1 to 2.5%.<\/p>\n
Lindt & Spruengli shed more than 2%. Schindler Holding ended nearly 1% up.<\/p>\n
Switzerland’s economic outlook remained very positive in May, driven by manufacturing and exports, survey data by the KOF economic institute showed.<\/p>\n
The KOF Economic Barometer climbed to a new record high of 143.2 point from 136.4 in April, which was revised from 134.0. Economists had forecast a score of 136. The reading is well above its long-term average.<\/p>\n
“The outlook for the Swiss economy<\/span> for the middle of 2021 can be regarded as very positive, provided that the containment of the virus continues to progress,” the think tank said.<\/p>\n Positive inputs also came from indicators for accommodation and food service activities followed by those for the other services sector. Meanwhile, private consumption measures gave slight negative impulses.<\/p>\n Earlier this week, the Swiss government decided to ease restrictions further from June 1. This includes indoor and outdoor re-opening of restaurants, the end of the requirement to work from home, and public events with limited numbers. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n