(RTTNews) – Despite paring a substantial portion of its early gains, the Switzerland stock market ended moderately higher on Thursday.
Stocks moved higher as investors reacted positively to the latest batch of economic data, and on optimism about a potential coronavirus relief package in the U.S.
Worries about the spread of the coronavirus virus continued to weigh, limiting market’s uptick..
The benchmark SMI ended with a gain of 51.12 points or 0.5% at 10,238.12, well off the day’s high of 10,312.37. The index touched a low of 10,209.99 in late afternoon trades.
Givaudan, Sika, Lonza Group and Swatch Group gained 1.3 to 1.7%. Alcon ended 1.1% up, while Richemont, Nestle, ABB, Novartis and Swisscom gained 0.5 to 0.75%.
Bank stocks Credit Suisse and UBS Group declined 0.9% and 0.3%, respectively.
Among midcap stocks, AMS moved up 2.5%, extending recent gains. Kuehne & Nagel and Helvetia gained 2% and 1.8%, respectively.