BRUSSELS (dpa-AFX) - The Switzerland market ended marginally up on Friday after staying above the flat line for almost the entire duration of the day's session. Despite geopolitical tensions and Fed Chair's hawkish tone during his speech at the Jackson Hole Symposium today, the mood in European markets remained positive.
The Swiss benchmark SMI, which advanced to 14,460.05 in early trades, ended the day with a gain of 15.40 points or 0.11% at 14,399.77.
Richemont climbed 1.8%. UBS Group moved up 1.7%, while Givaudan, Kuehne + Nagel, Straumann Holding and ABB gained 1%-1.5%.
Logitech International, Swiss Re, Sika, Helvetia Baloise Holding, Julius Baer, Zurich Insurance, Swisscom and Swiss Life Holding also closed higher.
Sandoz Group ended down 2.3%. Lindt & Spruengli drifted lower by 1.86%, while Roche and Sonova shed 1.46% and 1.01%, respectively.
Alcon, Lonza Group, Novartis, Schindler Ps and VAT Group also ended weak.
In economic news, a report from Swiss Economic Institute said the KOF Economic Barometer in Switzerland rose to 106.7 in August, up from a revised 104.2 in July and comfortably above market expectations of 103.3. It marked the strongest reading since November 2021.
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