{"id":44575,"date":"2024-03-07T18:05:51","date_gmt":"2024-03-07T18:05:51","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/03\/07\/swiss-market-ends-modestly-higher-52\/"},"modified":"2024-03-07T18:05:51","modified_gmt":"2024-03-07T18:05:51","slug":"swiss-market-ends-modestly-higher-52","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/03\/07\/swiss-market-ends-modestly-higher-52\/","title":{"rendered":"Swiss Market Ends Modestly Higher"},"content":{"rendered":"
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After a weak start and a subsequent long spell in negative territory, the Switzerland market recovered and closed modestly higher on Thursday thanks to strong buying at select frontline counters.<\/p>\n

The benchmark SMI, which dropped to a low of 11,470.77 in early trades, ended the day’s session at 11,575.37, gaining 28.90 points or 0.25%.<\/p>\n

Givaudan and Lonza Group gained 2.66% and 2.55%, respectively. Sika, Richemont and Holcim gained 1.7 to 2.15%.<\/p>\n

Sonova and UBS both gained nearly 1.25%. Zurich Insurance Group, Roche Holding, Swiss Re and Partners Group ended higher by 0.75% to 1%.<\/p>\n

Novartis ended down 3.6%, while Swisscom and Swiss Life Holding ended modestly lower.<\/p>\n

In the Mid Price Index, VAT Group, Clariant, Tecan Group and Sandoz ended higher by 2.9 to 3.7%. Lindt & Sprengli, SIG Group, Straumann Holding, BKW, Ems Chemie Holding and Adecco advanced 1.2 to 2.1%.<\/p>\n

Meyer Burger Tech plunged 13%. ams OSRAM AG tumbled more than 7%, while Temenos Group, SGS and Flughafen Zurich ended modestly lower.<\/p>\n

Data from the State Secretariat for Economic Affairs (SECO) showed Switzerland’s unemployment rate decreased for the first time in four months in February, edging down to 2.4%, from 2.5% in January. In the corresponding month last year, the jobless rate was 2.1%.<\/p>\n

Data also showed that the seasonally adjusted jobless rate stood at 2.2% in February, unchanged from January. <\/p>\n<\/p>\n

Market Analysis<\/p>\n<\/div>\n