Zurich (Reuters) – After the sharp rise on Wednesday, investors on the Swiss stock exchange switched back a gear and made some profits.
The leading index SMI listed on Thursday 0.2 percent higher at 11,233 points.
The fact that the barometer of the 20 largest listed companies held up was largely due to the sharp rise in the share price of index heavyweight Nestle. The food company, which started brilliantly in 2021, took the SMI top position with a price increase of 2.9 percent. Thanks to high demand for coffee and dairy products as well as pet food, the world market leader achieved organic sales growth of 7.7 percent in the first quarter – the strongest in a decade.
At the end of the SMI, Credit Suisse was at a 2.2 percent discount. After billions in losses as a result of the collapse of the US hedge fund Archegos Capital, the big bank is facing another potentially radical investigation by the Swiss financial market regulator (Finma).
Roche notes were also sold after they had risen sharply the day before in the wake of good quarterly figures. The heavyweight pharmaceutical stock lost 1.1 percent of its value.