Swiss Stocks End Week Upbeat; Holcim Rises

The Swiss Market Index closed 0.50% in the green on Friday amid a quiet day of economic news locally and thin trading volumes, with the US market closed in observance of the Independence Day holiday. Deutsche Bank Research raised its price target for Holcim (HOLN.SW) to 88 francs from 85 francs, expecting the building materials company's revenue in the second quarter to reach 4.27 billion francs. At the end of Friday's trading session, the stock was up 2.86%. "For Q2 (H1 results on 31 July), we expect a sales increase of c.2% yoy, reflecting: organic growth of c.4%; a marginally positive scope impact (with a full quarter contribution from Cementos Pacasmayo, largely offset by the Nigeria disposal); and negative FX of around 2% (mainly in AMEA and Europe); this represents an improvement from the c.6% impact seen in Q1," the research firm wrote in a note. Meanwhile, Givaudan (GIVN.SW) opened a new 24,000 square-meter production facility for flavor powders in Cikarang, Indonesia, in which it invested 50 million francs to bolster its manufacturing capacity. The move is also part of plans to expand the company's footprint in high-growth markets. The Swiss flavors and fragrances.