Swiss Market Ends On Buoyant Note

(RTTNews) - The Switzerland market closed on a strong note on Monday, as falling oil prices helped ease concerns about inflation and growth, prompting investors to pick up stocks.

The benchmark SMI ended with a gain of 169.86 points or 1.23% at 13,956.58, nearly 30 points off the day's high of 13,983.56.

Kuehne + Nagel climbed 4.2%. Givaudan and VAT Group both ended higher by about 3.75%. ABB, Schindler Ps and Sonova moved up 2.1%-2.7%.

Roche gained more than 2% as the European Commission approved the drugmaker's Susvimo (ranibizumab 100 mg/mL) for treating neovascular age-related macular degeneration.

Galderma Group, Logitech International, Straumann Holding, Sika, Sandoz Group, SGS, Amrize and Swisscom gained 1.3%-2%.

Nestle gained about 1%. The stock opened slightly down as the food-and-beverage producer lost control of its Russian operations after a presidential decree placed the business under temporary external administration.

Novartis, Partners Group, Zurich Insurance Group, Swiss Life Holding, Lonza Group and Swiss Re also ended on firm note.

Geberit drifted down 1.37%. Helvetia Baloise Holding dropped nearly 1%, while Lindt & Spruengli, Holcim and Alcon ended modestly lower.