BRUSSELS (dpa-AFX) - The Switzerland stock market ended modestly higher on Monday, despite suffering a mild setback in the final hour.
Positive updates on the vaccine front, with more countries across Europe set to roll out the coronavirus vaccine to curb the spread of the pandemic, and encouraging economic data from China and the Euro area contributed to the uptick.
The benchmark SMI rose more than 100 points in early trades, vaulting to 10,812.32. It touched a low or 10,693.86 a few minutes before the closing bell, but edged up to settle at 10,738.39 with a modest gain of 34.88 points or 0.33%.
Sika gained 2.85%. Givaudan, Geberit, Partners Group and ABB ended higher by 1.5 to 2%, while Richemont and UBS Group advanced 1.4% and 1.2%, respectively. Swisscom ended nearly 1% up.
Swiss Re slid 1.1%, while Alcon, Novartis and Lonza Group shed 0.5 to 0.8%. According to a report in the SonntagsZeitung newspaper, Swiss regulators have allowed Lonza Group to start producing Moderna's COVID-19 vaccine at a plant in Switzerland.
In the midcap section, AMS ended stronger by nearly 3.5%. Galenica Sante, Schindler Holding, Logitech, Schindler Ps and Ems Chemie Holding gained 1.6 to 1.8%.
Among the losers, Dufry ended 5.2% down. Vifor Pharma closed lower by 4.35% and Helvetia ended lower by about 2%. Flughafen Zurich, OC Oerlikon Corp and Cembra Money Bank lost 1 to 1.4%.
According to Swiss health authorities, coronavirus infections in Switzerland rose by over 9,600 cases since Thursday. The Swiss government has imposed a raft of national measures to curb the spread of coronavirus infections.
Copyright RTT News/dpa-AFX