The Swiss stock market experienced a modest uptick on Monday, despite some sluggishness up to mid-morning. Investor sentiment remained cautious as market participants awaited the Swiss National Bank's (SNB) forthcoming interest rate decision and a host of new economic data from the United States and Europe.
The SNB is anticipated to ease its monetary policy for the third time, lowering the rate to 1%.
The benchmark Swiss Market Index (SMI) closed at 11,965.35, marking an increase of 31.28 points or 0.26%. The index fluctuated between 11,922.06 and 12,000.46 during the trading session.
Among the gainers, Sandoz Group climbed 2.62%, while Nestle, Lindt & Spruengli, Alcon, Zurich Insurance Group, Schindler Ps, Givaudan, Lonza Group, Swiss Life Holding, SIG Group, and UBS Group saw gains ranging from 0.5% to 1.1%.
On the downside, Sonova dipped nearly 1.5%, and Adecco fell by 1.28%. Logitech International, Straumann Holding, and Julius Baer declined between 0.7% and 1%.
Stocks like Swatch Group, Swiss Re, VAT Group, and Richemont also finished the day with modest losses.