Swiss Market Ends Marginally Up

The Switzerland stock market ended marginally up on Friday after moving in a very tight range as investors largely refrained from making significant moves amid a lack of fresh triggers.

While easing concerns about China Evergrade's debt woes supported the sentiment a bit, worries about rising coronavirus cases and slowing economic growth weighed on stocks.

The benchmark SMI, which moved between 12,020.99 and 12,073.47, ended the day with a gain of 17.07 points or 0.14% at 12,056.21.

Richemont shares climbed 1.65%. UBS Group, Swisscom, ABB, Geberit, Lonza Group, Swiss Life Holding and Credit Suisse gained 0.4 to 0.85%.

Logitech shed 0.72% and Roche Holding declined 0.56%. SGS ended lower by about 0.3%, while Swiss Re declined marginally.

In the Swiss Mid Price Index, Schindler Ps, Schindler Holding and VAT Group gained 2.5 to 3.1%. Straumann Holding advanced 1.75% and Kuehne & Nagel gained about 1.6%.

AMS ended lower by 2.35%. Cembra Money Bank, BB Biotech and Lindt & Spruengli declined 1.3 to 1.5%.

Swiss Health Minister Alain Berset said earlier this week that the Covid certificate requirement and other restrictions will remain in place given the epidemiological situation, which has worsened in the last few days.

Berset warned that there are "still dark clouds on the horizon" and that there are concerns that infections could increase as people return from October holidays and the cold season approaches.

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