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Swiss market ends with solid notes on strong earnings renewal

The Swiss stock market closed steadily on Tuesday, supported by strong earnings renewals from lender UBS and pharmaceutical company Novartis.

Positive trends across Europe also helped raise emotions.

Benchmark SMI, which remained strong throughout the session, ended with a session high of 12,146.52, up 83.35 points or 0.69%.

UBS Group shares rose 1.25%.Creditors have announced plans for a digital investment tool that posted the highest quarterly net income since 2015 and hopes to expand wealth management jobs Beyond the very rich. The bank posted a profit of $ 2.3 billion in the quarter.

Novartis rose 1.1% after reporting third-quarter revenue of $ 2.76 billion. The bank said it made a net profit of $ 1.22 per share. The company said adjusted earnings were $ 1.71 per share.

Swiss Re was up 2.7%. Swiss Life Holding increased by approximately 2.05%, while Richemont and Zurich Insurance Group increased by 1.78% and 1.53%, respectively. Credit Suisse, Archon, Swisscom and ABB also rose significantly.

Logitech’s share price fell 4.27% after computer peripheral makers warned about supply chain disruptions.

In the Swiss Mid-Price Index, the Menos Group rose 4.6%, Duffrey rose 3.05%, AMS rose 2.75% and The Swatch Group rose 2.25%.

VAT Group, Julius Baer, ​​Furgafen Zurich, Linz & Sprengli and Baroise Holding increased by 1.4-2%. Adecco, Helvetia, Lindt & Spruengli N and Straumann Holding also closed with strong profits.

Zur Rose plummeted 8.8%. SIG Combibloc decreased by about 4.7%, while Kuehne & Nagel decreased by 1.4%.

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Swiss market ends with solid notes on strong earnings renewal

Source link Swiss market ends with solid notes on strong earnings renewal

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