Swiss Stocks Close Higher as SMI Gains 1%, Belimo Surges on Raised Guidance

Swiss equities ended firmly higher on Monday, tracking gains across Europe as investors weighed U.S. political developments and awaited fresh economic data and quarterly earnings. The benchmark SMI rose 123.30 points, or 1.01%, to close at 12,296.74, after trading between 12,199.04 and 12,334.06. Belimo Holding surged nearly 17% after raising its sales guidance, leading index gains. SGS climbed about 2.7%, while Kuehne + Nagel, Schindler Ps, SIG Group, Novartis and Logitech International added 2% to 2.5%. Lindt & Spruengli rose nearly 2%, and Givaudan, Julius Baer, Sonova, Swiss Life Holding, Geberit, Lonza Group and Holcim gained 1% to 1.5%. Richemont, Sandoz Group, UBS Group, Nestle, Sika, Swatch Group, Partners Group, Roche GS and ABB posted moderate gains. Meyer Burger Tech rallied 7.7%, Georg Fischer gained about 3.6%, and Helvetia climbed 2%. Tecan Group, Sandoz, Galanica Sante, BKW and Ems Chemie Holding also posted notable gains. The advance followed U.S. President Joe Biden's withdrawal from the White House race over the weekend and his endorsement of Vice President Kamala Harris as the Democratic candidate.