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Swiss Market Ends On Buoyant Note As Stocks Rally On Positive Global Cues

The Switzerland stock market ended on a high note on Friday, tracking positive global cues.

As investors kept picking up stocks amid slightly easing worries about inflation, the market surged higher and higher as the session progressed to eventually close with an impressive gain.

The benchmark SMI ended with a big gain of 369.81 points or 3.54% at 10,823.12, the day's high.

All the components of the SMI index ended with sharp gains. UBS Group topped the list, surging more than 6%. Credit Suisse, Lonza Group, Givaudan, Geberit, Richemont and Roche Holding climbed 4 to 5.2%.

Zurich Insurance Group gained 4.2% after it agreed to sell its legacy traditional life insurance back book in Germany to Viridium Holding AG.

Partners Group, Logitech, Sika, Novartis, Swiss Re, Nestle, SGS, Swiss Life Holding and Alcon moved up 2 to 4%.

In the Mid Price Index, Straumann Holding rallied 6.5%. Julius Baer, Temenos Group, Swatch Group, Schindler Ps, Georg Fischer, Schindler Holding, Bachem Holding, VAT Group, Clariant and AMS gained 4 to 5.1%.

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