Today in Switzerland: A round-up of the latest news on Monday
Helena Bachmann in Geneva
Helena Bachmann in Geneva
07:51 CEST
Find out what s going on in Switzerland today with The Local s short round-up of the news.
Covid self-tests are not accurate, some doctors claim
Each Swiss resident is entitled to five free self-tests per month.
But Nicolas Vuilleumier, the head of service at the University Hospitals of Geneva (HUG), who is also president of the umbrella organisation of medical laboratories in Switzerland, said that due to their lack of sensitivity, these tests are not reliable screening tools.
“We will have problems of false negatives which will arise in relatively large proportions”, Vuilleumier warned in an interview with RTS public broadcaster.
Swiss Market Closes Modestly Higher
BRUSSELS (dpa-AFX) - The Switzerland stock market ended modestly higher on Friday despite staying sluggish for much of the day s session.
Optimism about global economic recovery supported the market, although worries about rising coronavirus cases and lockdown restrictions limited its gains.
The benchmark SMI ended up by 31.64 points or 0.28% at 11,238.52 after hitting a fresh high of 11,247.01.
Lonza Group shares gained nearly 2%. Givaudan moved up 1.7% and ABB gained about 1.25%. LafargeHolcim ended 0.9% up.
Geberit, Partners Group, Roche Holding, Nestle, Sika, SGS and Swiss Life Holding gained 0.5 to 0.9%.
Zurich Insurance Group ended 4.7% down and Credit Suisse shed 2.3%.
In the midcap section, VAT Group and Tecan Group gained 2.5% and 2.2%, respectively. Straumann Holding, Kuehne & Nagel, Georg Fischer and Sonova ended higher by 1 to 1.6%, while AMS ended 2.3% down.
European Stocks Close Mixed After Choppy Session
BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks closed mixed on Friday, as investors stayed a bit cautious amid uncertainty about direction after markets hit record highs in recent sessions.
Some disappointing economic data from the euro area, signs of rising inflation in China, worries about rising coronavirus cases and extended lockdown measures in several countries weighed on stocks.
The downside remained capped after the U.S. Federal Reserve repeated its pledge that monetary policy will likely remain unchanged for the foreseeable future.
The pan European Stoxx 600 edged up 0.08%. The U.K. s FTSE 100 slid 0.38%, while Germany s DAX and France s CAC 40 advanced 0.21% and 0.06%, respectively. Switzerland s SMI climbed 0.28%.
Swiss Jobless Rate Decline In March
BRUSSELS (dpa-AFX) - Switzerland s jobless rate decreased in March, data from the State Secretariat for Economic Affairs showed on Friday.
The jobless rate fell a seasonally to 3.4 percent in March from 3.6 percent in February. Economists had expected a rate of 3.6 percent.
On an unadjusted basis, the unemployment rate fell to 3.3 percent in March from 3.4 percent in the previous month. Economists had forecast a rate of 3.6 percent.
The number of registered unemployed declined to 157,968 in March from 167,953 in the preceding month.
The unemployment rate among the youth aged between 15 and 24, decreased to 3.0 percent in March from 3.5 percent in the prior month.
Dollar Rebounds From Recent Losses, Posts Gains Against Peers
WASHINGTON (dpa-AFX) - The U.S. dollar traded firm against most of its major counterparts on Friday, rebounding well after recent losses.
A surge in bond yields following a bigger than expected increase in consumer prices in the U.S. and China pushed up the dollar.
Producer prices in the U.S. jumped by much more than expected in the month of March, according to a report released by the Labor Department on Friday.
The Labor Department said its producer price index for final demand surged up by 1% in March after climbing by 0.5% in February. Economists had expected another 0.5% increase.