Swiss Stock Market Surges: SMI Tops 12,500 for First Time Since April
The Swiss stock market today enjoyed a positive day, with the SMI closing 0.64 percent higher at 12,507.17 points. This marks the first time since April that the SMI has risen above the 12,500 mark, briefly touching 12,549 points. The SPI also rose, by 0.54 percent to 17,208.77 points.
Leading the way were pharmaceutical giants Roche and Novartis, which gained 0.9 percent and 1.2 percent respectively. They benefited from a US drug pricing deal. UBS shares also performed well, rising 2.2 percent, likely due to potential changes in capital requirements. However, not all stocks were in the green. VAT consolidated recent gains, while Lindt & Sprüngli, Nestlé, and Schindler closed weaker, down 0.8 percent, 0.6 percent, and 0.5 percent respectively.
Alcon shares, despite a negative annual balance so far, were among the top performers in the SLI, rising 2.3 percent. The SLI itself gained 0.66 percent to 2027.43 points. Looking at the week as a whole, the SMI gained a robust 4.8 percent.
The Swiss stock market's performance was mixed, with some notable gains and losses. Roche and Novartis continued their upward trend, while Holcim was the worst performer in the SMI, despite positive recommendations from several investment banks. The market's overall direction remains positive, with the SMI breaking through a significant milestone.
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