Swiss Market Ends Moderately Higher

(RTTNews) - The Switzerland stock market closed on a bright note on Thursday, in line with markets across Europe, as the undertone remained firm right through the day's session after U.S. President Donald Trump dropped planned tariffs on eight European countries and ruled out using force to take Greenland.

Global markets reacted positively to Trump's comments about Greenland and tariffs during his speech at the World Economic Forum in Davos, Switzerland.

Trump committed not to use force in his pursuit of Greenland ownership. The President also announced reaching a Greenland deal "framework" with NATO Secretary General Mark Rutte, boosting market sentiment.

The benchmark SMI, which climbed to 13,299.42 in the session, settled with a gain of 71.59 points or 0.54% at 13,228.40.

Holcim, up nearly 3%, was the top gainer in the SMI index. Amrize, Julius Baer and Kuehne + Nagel gained 1.7 to 1.9%.

UBS Group, Partners Group and SGS moved up by 1.36%, 1.26% and 1.1%, respectively. Roche Holding, Swisscom, Sika, Novartis, Schindler Ps, Geberit and Sonova gained 0.5 to 1%.

Straumann Holding lost 1.07%. Galderma Group ended down by 0.85%, while Alcon, ABB and Lonza Group lost 0.4 to 0.52%.