Swiss SMI Rises 0.71% as Holcim Upgrade, Rate-Cut Optimism Lift Zurich Stocks

Switzerland's benchmark SMI closed up 86.51 points, or 0.71%, at 12,275.24 on Monday, recovering from an early dip to 12,167.45 and touching a session high of 12,296.22 as several stocks rallied in the final hour. Holcim rose nearly 2% after Deutsche Bank upgraded the stock to "buy" from "hold" and raised its price target to 91 francs from 81 francs. Richemont gained about 2.2%, while Partners Group also ended nearly 2% higher. Straumann Holding added 1.76%, and Geberit, Sandoz Group, SIG Group, Vat Group and ABB advanced 1.1% to 1.5%. Sentiment was supported by last week's data showing a sharp surge in Swiss industrial output and growing optimism over a Federal Reserve rate cut in September. UBS Group, Julius Baer and Lindt & Spruengli ended weaker.