Swiss Market Extends Winning Streak

The Switzerland stock market closed on a positive note on Friday, rising for a ninth straight day, as the mood remained bullish on optimism about strong economic recovery amid acceleration in vaccine rollouts.

The benchmark SMI hit a fresh record high at 11,873.63 and ended with a gain of 30.50 points or 0.26% at 11,841.30.

Alcon, Partners Group and Lonza Group gained 1.25 to 1.4%. Swiss Re, Sika, SGS, Swiss Life Holding, Holcim, Geberit and Zurich Insurance Group gained 0.5 to 0.8%.

Swisscom and Novartis ended lower by 0.8% and 0.29%, respectively.

Among the stocks in the Swiss Mid Price Index, OC Oerlikon Corp climbed 6.3%. Temenos Group gained 4.1% and Adecco gained about 3.3%. Georg Fischer and SIG Combibloc both ended higher by about 2.1%.

VAT Group, Dufry, Julius Baer, Tecan Group, Cembra Money Bank, AMS and Ems Chemie Holding also ended notably higher, while Logitech declined by more than 3%.

In coronavirus updates, the Swiss government has announced plans to ease entry restrictions for people wanting to visit Switzerland from June 28. The government said it also wants to further open up public life from that date. According to reports, a final decision is expected on June 23 following a consultation process.

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