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Swiss Market Index Closes Higher; Sika, Aevis Victoria Shares Up

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The Swiss Market Index remained in positive territory on Tuesday, closing 0.94% higher, amid a quiet day of local economic news.

Swiss President Guy Parmelin met with German Chancellor Friedrich Merz in Berlin to further strengthen bilateral ties. Among the topics discussed were economic policy, research and innovation, and the European security architecture.

Meanwhile, Switzerland and Luxembourg agreed to set up regular financial dialogue between the two countries as part of efforts to boost Europe's competitiveness in the financial sector.

Zooming out to the UK, the unemployment rate unexpectedly came in at 5% in the three months to March, up from 4.9% in the three months to February.

On the corporate side, Swiss investment company Aevis Victoria's (AEVS.SW) consolidated net revenue reached 299.1 million francs in the first quarter, up 1.8% year over year. Profit before taxes also rose to 21.5 million francs from 13.1 million francs. The stock added 1.14% at the end of the trading session.

Sika (SIKA.SW) is expanding its production capacity in the US by opening a new manufacturing facility for mortar products in New Jersey to meet growing customer demand in major metropolitan areas. The Swiss specialty chemicals company's new site will offer mortar leveling and repairs, tile adhesives, and shotcrete systems. Sika's shares were up 0.36% at closing.

"Our new plant in Bridgeton is a strategic expansion of our production network in the USA and creates a solid basis for further growth in the northeastern part of the country. It enables us to quickly meet the growing demand from customers for our value-adding solutions and to further develop our presence in an economically strong region," said Mike Campion, Sika's regional manager for the Americas.

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