ZRICH (Dow Jones)–The Swiss stock market posted gains on Monday. In retail there was talk of a shaky stabilization. While interest rate worries continued to weigh, good corporate figures and strong recent economic data provided support. The indications from the neighboring European stock exchanges and from the USA were predominantly positive. However, the tensions surrounding Ukraine caused uncertainty.
The SMI gained 0.4 percent to 12,194 points. In the 20 SMI stocks, there were 13 price winners and seven losers. 34.79 (previously: 36.7) million shares were traded.
ABB shares led the SMI with a gain of 2.3 percent. With a minus of 10 percent since the beginning of the year, the share has some catching up to do. The company has also received an order from Spain for drive and battery technologies for trains.
Financial stocks benefited from the prospect of rising interest rates. Credit Suisse and UBS each gained 1.7 percent, while among insurers Zurich Insurance climbed 1.3 percent. JP Morgan has resumed monitoring of the stock with “Outperform”.
Givaudan (-1%) continued their downtrend. The share has lost more than 20 percent since the beginning of the year.
The pharmaceutical heavyweights tended to be mixed. While Novartis increased by 0.7 percent, Roche lost 0.1 percent.
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DJG/raz/ros
(END) Dow Jones Newswires
February 07, 2022 11:39 ET (16:39 GMT)
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