Swiss Stocks Surge: SMI Index Climbs 2.07% on Roche, Novartis Boost
Swiss stocks closed strongly today, with the SMI index gaining 2.07% to reach 12,360.13 points. Key players drove this growth, while the SMIM index experienced a slight dip.
Pharmaceutical giants Roche and Novartis contributed significantly to the market's rise. Roche's stock price surged by 8.6%, while Novartis followed suit with a 3.4% increase. Pfizer also saw a boost of over 2% following its recent agreement with the US government on drug prices.
Analysts noted that the potential sale or spin-off of Nestlé's water business has been driving its stock upward since the start of the week. Meanwhile, Givaudan closed with losses of 0.5% after announcing a smaller acquisition in the US. In medtech, Straumann gained 1.1%, while Sonova closed with losses of 0.1%.
The US government shutdown has not yet had a significant impact on markets, but analysts warn of potential increased nervousness if it continues. The release of US employment data could also be delayed, which might influence the US Federal Reserve's interest rate decision.
The Swiss stock market finished the day on a positive note, with the SMI index closing up 2.07%. Key pharmaceutical and consumer goods companies drove this growth, while the impact of the US government shutdown remains to be seen.
