Swiss Market Settles Modestly Higher

(RTTNews) - After a marginal uptick and a subsequent drop that resulted in a negative spell till about a couple of hours past noon, the Switzerland market recovered and spent the rest of the trading session in positive territory on Monday.

The benchmark SMI, which dropped to a low of 14,123.64 settled with a gain of 51.19 points or 0.36% at 14,223.90, the day's high.

Galderma Group, the top gainer in the SMI, moved up 4.25%. VAT Group moved up 2.25%. Richemont, Julius Baer, Nestle, Swiss Re, ABB and Logitech International gained 1%-1.7%.

Sandoz Group gained 1.8%. Sandoz said the U.S. Food and Drug Administration accepted for review two applications for generic versions of Eli Lilly's Zepbound and Mounjaro, its popular shots for obesity and diabetes.

Lonza Group, Roche, Zurich Insurance, Kuehne + Nagel and Givaudan also closed higher.

Amrize ended down nearly 4.5%. Holcim closed 3.81% down, and Sika drifted lower by 2.51%. Sonova shed 1.8% and Alcon ended with a loss of 1.2%.

Geberit, Swisscom, Helvetia Baloise Holding and Schindler Ps also closed weak.

Sandoz said the U.S. Food and Drug Administration accepted for review two applications for generic versions of Eli Lilly's Zepbound and Mounjaro, its popular shots for obesity and diabetes.