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Swiss Market Hits New High

The Swiss market hit a new all-time high on Tuesday, with investors continuing to pick up stocks, encouraged by fairly strong earnings in recent quarters and hopes that the Swiss economy is unlikely to be hurt any significantly due to the ongoing trade war.

The benchmark SMI ended up 86.74 points, or 0.89%, at 9,835.87, after scaling a record high of 9,871.44.

Credit Suisse rose about 2.7%. Lonza Group gained 2.3% and UBS Group ended higher by nearly 2%.

Sika, Richemont, ABB, Geberit, Adecco and Alcon gained 1 to 1.7%.

LafargeHolcim ended 1.6% up. The company announced that it would issue 19.3 million new shares as scrip dividend. The delivery of the new shares and the payment of the cash dividend will be on June 25, 2019, the company added.

Roche Holding gained nearly 1.5%. The company announced that the U.S. Food and Drug Administration has granted accelerated approval to Roche Holding's combo lymphoma treatment for previously treated patients.

Among the stocks in the midcap index, AMS surged up 5.1%. Julius Baer gained 4.1%, Georg Fisher advanced 3.75%, Logitech International surged up 3.25% and Temenos ended higher by about 3.15%.

The pan European Stoxx 600 ended higher by 0.69% today. Among the major markets in Europe, Germany ended notably higher again, gaining 0.92%. The U.K.'s FTSE 100 moved up 0.31% and France's CAC 40 gained 0.48%.

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