Swiss market remains strong for 3 consecutive days

Swiss stock market remained strong on Friday market Throughout Europe, with optimism about strong earnings from top-tier companies and expectations of a global economic recovery.

Investor sentiment has increased with higher-than-expected earnings updates from top US banks, JPMorgan Chase, Bank of America, Wells Fargo, Citigroup and Morgan Stanley.

After a reasonably high start, the Benchmark SMI, which fell into the red, recovered quickly and spent the rest of the session in the positive territory. The day ended with a rise of 68.82 points (0.58%) of 11,961.34, rising for the third consecutive day.

The index rose 0.49% and 0.66% on Wednesday and Thursday, respectively.

Credit Suisse increased by nearly 2%. Richemont, Swiss Life Holding, Swiss Re, Geberit, Deer and Roche Holding increased 0.8-1.2%. ABB, Novartis and UBS groups rose 0.6-0.75%.

Logtech decreased by nearly 2%. SGS decreased by about 0.5%, while Archon and Givaudan decreased slightly.

In the interim price index, AMS, Schindler Ps, Dufry, Lindt & Spruengli, Georg Fischer, PSP Swiss Property, Schindler Holding and Straumann Holding increased by 1.2-1.7%.

Swiss banking software company Temenos plunged nearly 14% after creditors missed their third-quarter earnings forecasts.

Kuehne & Nagel fell 2.7%, while Logitech, Vifor Pharma and SIG Combibloc fell 1.9%, 1% and 0.56%, respectively.

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Swiss market remains strong for 3 consecutive days

Source link Swiss market remains strong for 3 consecutive days

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