Swiss shares slightly higher midafternoon, led by Swiss Re |
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Fri, 23 Mar 2007 16:01
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ZURICH (AFX) - Share prices were slightly higher midafternoon tracking opening gains on Wall Street and across the European bourses, led by Swiss Re and with trading activity subdued ahead of the weekend, dealers said.At 3.30 pm, the Swiss Market Index was 16.04 points higher at 9,090.29 and the Swiss Performance Index was 11.75 points higher at 7,259.20.The euro was little changed against the Swiss franc, at 1.6183 sfr, while the US dollar rose to 1.2163 sfr.Trading volumes have been low, given a dearth of corporate domestic news with little movement amongst the heavyweights.Swiss shares are taking their cue from Wall Street, where stocks gained after a surprise jump in sales of existing homes last month lent strength to the notion that the housing sector may not be as weak as feared.Top gainers were Swiss Re, up 0.7 sfr at 109.7, followed by ABB, up 0.15 sfr at 21.45 sfr, and Julius Baer, up 0.7 sfr at 169.3.Elsewhere among financials, Credit Suisse added 0.25 sfr at 90.45 sfr, while UBS was flat at 72.95. Insurer Zurich Financial was also flat at 352.Pharma heavyweights were also little changed. Novartis was flat at 69.35, while Roche added 0.4 sfr at 222.6.Fellow heavyweight Nestle gained 2.0 sfr at 478.25 sfr, reversing earlier gains.Outside the SMI, Interroll surged 30 sfr or 6.6 pct to 485 on news that the group achieved a 19.5 pct full-year net profit rise to 20.2 mln sfr, topping market expectation. A positive outlook for 2007 following a strong start this year is further boosting the stock, dealers said.afx.zurich@afxnews.comckj/gpCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Swiss shares flat midafternoon trade on dearth of news, mixed heavyweights 