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The Swiss stock market closed mostly higher on November 28, 2024, with the SMI rising 0.57% to 11,709.80 points, despite a lack of significant market-moving news. Julius Baer led gains with a 2.1% increase, while technology stocks like Logitech also performed well amid easing US interest rates. Conversely, Swatch Group and Richemont saw declines, reflecting ongoing challenges in the luxury sector.
UBS has downgraded Liberty Global (NASDAQ:LBTYA) to "neutral" from "buy" following the spin-off of Swiss telecom firm Sunrise. The ratings firm noted that Liberty Global"s stock, excluding Sunrise, has appreciated by 50% over the past year.
Sunrise, a telecoms company, has successfully returned to the SIX Swiss Exchange after being delisted in 2021 due to its acquisition by Liberty Global. Trading commenced at 44.75 Swiss francs, valuing the company at approximately 3.29 billion francs, making it one of the largest IPOs of the year. CEO André Krause emphasized the company's focus on growth and a progressive dividend policy, with Liberty Global retaining a significant stake in Sunrise.
Sunrise
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Swiss stock market shows mixed results amid thin trading and holiday effects
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VAT
Swiss Re AG
Logitech International S.A.
ABB Ltd
Nestlé S.A.
Givaudan SA
Sonova Holding AG
Hoffmann-La Roche AG
RICHEMONT, Intellectual Property Services
Straumann Holding AG
Carlo Gavazzi Holding AG
Holcim AG
Adecco Group AG
UBS
Pierer Mobility
Sika AG
Novartis AG
The Swatch Group AG
Partners Group Holding AG
Sandoz Group AG
Sunrise
CHE
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08:07 28.11.2024
UBS downgrades Liberty Global to neutral following Sunrise spin-off
18:10 18.11.2024
sunrise shares debut on six swiss exchange after successful spin-off from liberty
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Galderma Group N
MIDEA GROUP
Lineage, Inc.
Liberty Global
Sunrise
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Mike Fries
André Krause
John Malone
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11:22 15.11.2024
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