FX.co ★ Swiss Market Ends On Firm Note

The Swiss stock market concluded positively on Tuesday, experiencing a notable upswing in the latter half of the trading day due to robust buying engagements. This upward momentum was marked by a strong performance in the afternoon, following a relatively steady session earlier. Additionally, investor attention was drawn to the World Economic Forum, which commenced in Davos, Switzerland, on Monday.

The SMI, Switzerland's primary stock index, ended the day with an increase of 73.94 points, or 0.61%, reaching a peak of 12,111.16.

Straumann Holding saw a substantial rise, appreciating by approximately 2.5%. Logitech International's shares increased slightly over 2%, while Alcon and Schindler Ps recorded gains of 1.9% and 1.84%, respectively.

Other notable performers included Sonova, ABB, Sandoz Group, Swatch Group, Roche Holdings, Lonza Group, Richemont, Partners Group, and SGS, which all posted increases ranging from 1% to 1.6%. Additionally, Julius Baer and Holcim improved by nearly 1%, and Lindt Spruengli gained about 0.8%.

Avolta surged by around 2.3% following the announcement of its expansion into Tunisia, where it plans to open 15 duty-free shops at five international airports.

Conversely, SIG Group shares fell by 1.51%, Adecco declined by nearly 1%, and UBS Group saw a slight decrease of 0.66%.