Swatch: boosted by Swiss watch exports
(CercleFinance.com) - Up over 3% this morning in Zurich, Swatch Group shares are in pole position in the SMI index, after the announcement of strong growth in Swiss watch exports in May.
According to the Federation of the Swiss Watch Industry, exports of watch products rose by 11.4% in value last month, to 2.04 billion Swiss francs. Although non-recurrent items - a positive calendar effect and the recognition of the exceptional export of alarm clocks and table clocks helped, the growth in wristwatch sales alone remains high at +8.6%.
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According to the Federation of the Swiss Watch Industry, exports of watch products rose by 11.4% in value last month, to 2.04 billion Swiss francs. Although non-recurrent items - a positive calendar effect and the recognition of the exceptional export of alarm clocks and table clocks helped, the growth in wristwatch sales alone remains high at +8.6%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.