Swiss shares close markedly higher led by Synthes, Holcim UPDATE |
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Published
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Wed, 21 Mar 2007 18:13
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(updating with full report)ZURICH (AFX) - Share prices closed markedly higher, outperforming other European markets, led by Synthes and Holcim, while Baloise was hit by profit-taking after a strong set of full-year figures.The Swiss Market Index closed 59.77 points higher at 8,942.16, and the Swiss Performance Index was 52.91 points higher at 7,146.91.The euro rose against the Swiss franc to 1.6175 sfr, as did the US dollar, to 1.2162 sfr.The SMI remained in positive territory in low volume afternoon trade with investors here sidelined ahead of the US rate decision and with little corporate news to move the market.Focus here was on Baloise, down 2.9 sfr, or 2.3 pct at 126.0 sfr, today's top faller and the only other stock in the red besides Julius Baer, on profit-taking after the group's full-year numbers came in strong but showed a slightly mixed underlying performance, dealers said.'And there was no news on a possible share buyback or takeover. After gains yesterday, we expect some slight profit-taking,' said a trader.Top gainer was Synthes, up 3.2 sfr or 2.1 pct at 154.4 sfr, followed by Holcim, up 2.4 sfr or 2.0 pct at 121.7, and Richemont, up 1.05 sfr or 1.6 pct at 68.85 sfr.Among financials, UBS added 0.7 sfr at 71.5 sfr, extending gains yesterday, and lifted by an upgrade of the banking sector to 'overweight' from 'neutral' at Goldman Sachs.Peer Credit Suisse added 0.20 sfr at 87.35, while Julius Baer succumbed to profit-taking, down 1.7 sfr or 1.0 pct at 161.2.Elsewhere among insurers, Zurich Financial gained 2.0 sfr at 345.75 sfr, while Swiss Re ended 0.5 sfr higher at 106.7 sfr.Among pharma stocks, Roche climbed 2.2 sfr, or 1.0 pct, to 218.0 sfr after it said last night that new data shows no link between neuropsychiatric symptoms and its Tamiflu influenza treatment in children.Peer Novartis was up 0.15 to 69.20 sfr.Nestle ended the session 2.25 sfr higher at 472.5 sfr.afx.zurich@afxnews.comckj/cmlCOPYRIGHTCopyright 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 close markedly higher led by Synthes, Holcim; Baloise top faller 