Swiss SMI index hits record-high

Monday, 23. December 2019 13:18

Swiss equities traded higher on Monday with the Swiss Market Index (SMI) index reaching an all-time high of 10,728.39 points ahead of the Christmas break. Stocks were boosted by trade optimism after US President Donald Trump said he expects Washington to sign the recently struck trade deal with China "very shortly" and Beijing announced it will lower tariffs on over 850 products with the goal to "expand imports" and "promote high-quality development of trade."

The SMI rose 0.36% at 13:10 pm CET. The best performer was Swatch, whose shares jumped 1.70% at 1:11 pm CET, followed by Richemont, up 1.66% at 1:10 pm CET.

Elsewhere in Europe, the FTSE 100 gained 0.46% at 1:13 pm CET, the CAC 40 added 0.08%, while the German DAX lost 0.10% at the same time.

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Breaking the News / NP