Swiss market closes marginally higher after cautious session

BRUSSELS (dpa-AFX) – The Swiss market closed slightly higher on Monday after trading in a narrow range above the flat line all day. Investors appeared reluctant to make significant moves ahead of crucial economic data, including inflation reports in the UK and US, and GDP data from several countries.

The benchmark SMI closed 7.78 points or 0.07% higher at 11,873.71, after moving between 11,867.32 and 11,935.33.

Logitech International rose nearly 2 percent. Richemont ended up about 1.25 percent. Partners Group, Julius Baer, ​​Zurich Insurance Group, Straumann Holding, Swiss Life Holding and ABB gained 0.5 to 1 percent.

Swisscom, UBS Group and Kuehne + Nagel posted modest gains.

Lonza Group closed down 1.8%. Lindt & Spruengli and Sonova both closed slightly down 1.5%. Alcon and Givaudan both closed down 1.12%. Geberit and SIG Group also closed weak.

Sandoz announced that it has received approval from the U.S. Food and Drug Administration for its biosimilar Enzeevu as an intravitreal injection for the treatment of patients with neovascular age-related macular degeneration. Sandoz shares fell slightly.

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