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Swiss Market Closes At New Record High

The Switzerland stock market climbed to a new high on Friday, shrugging off a somewhat sluggish start, as investors continued to bet on hopes the economy will see a significant recovery this year.

Easing of coronavirus restrictions amid falling new cases of infections and acceleration in vaccine rollouts helped keep investor sentiment positive.

The benchmark SMI, which moved in a tight range between 11,505.21 and 11,540.00 till around the penultimate hour, edged higher in the closing minutes to settle at a new high of 11,570.68, gaining 60.08 points or 0.52%.

Roche Holding shares gained 1.25%. Alcon and Sika also gained more than 1%. Nestle and Givaudan both ended nearly 1% up, while Partners Group and Novartis advanced by 0.66% and 0.5%, respectively.

UBS Group, Swiss Life Holding and Swatch Group lost around 1.1%. Holcim ended nearly 1% down, while Swiss Re and Credit Suisse shed 0.44% and 0.37%, respectively.

Among the stocks in the Mid Price Index, AMS climbed 4.36%. Temenos Group climbed about 3% and Tecan Group ended nearly 2% up.

Cembra Money Bank, SIG Combibloc, Straumann Holding and Vifor Pharma gained 1.1 to 1.2%. BB Biotech, Ems Chemie Holding, Sonova, Galenica Sante and Kuehne & Nagel also ended notably higher.

According to the Federal Office of Public Health, Switzerland saw 489 new coronavirus cases in the last 24 hours. That was lower than the 7-day average of 641 cases.

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