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Swiss Market Ends On Buoyant Note

The Switzerland stock market ended notably higher on Monday, in line with the trend seen across Europe, amid rising optimism the reopening of businesses will help bring sagging economies back on track.

The benchmark SMI ended up 135.55 points, or 1.4%, at 9,824.54, gaining gradually after a steady start.

Lonza Group surged up 3.65% and Adecco gained about 3.5%. LafargeHolcim moved up 2.75%, while Zurich Insurance Group, ABB and Richemont gained 2.2 to 2.5%.

Credit Suisse ended higher by a little over 2%. Alcon, Gebrit, Swiss Life Holding and Swiss Re gained 1.6 to 2%, while UBS Group and Sika both ended higher by about 1.4%. Novartis, Swatch Group and SGS also ended notably higher.

In the midcap section, Dorma Kaba Holding gained nearly 5%. Flughafen Zurich ended up 4.4%.

Georg Fischer, Sonova, Vifor Pharma, Bucher Industries, Dufry, Julius Baer and Temenos Group moved up 3 to 4.3%. Helvetia, Logitech, Baloise Holding and PSP Swiss Property also rose sharply.

Kuehne & Nagel shares gained about 1.5%. According to Klaus-Michael Keuhne, the controlling shareholder of the company, the freight-forwarder may cut more than 20,000 jobs due to the hit taken by the shipping industry amid the coronavirus pandemic.

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