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Swiss Market Ends On Firm Note

The Switzerland stock market closed on a bright note on Wednesday, in line with the trend seen across global markets, amid expectations the new Joe Biden-led administration in the U.S. will come out with additional stimulus soon to boost growth in the world's largest economy.

Already, new U.S. Treasury Secretary Janet Yellen has pledged to "act big" on stimulus to reinvigorate the economy hit by the coronavirus pandemic.

The benchmark SMI ended with a gain of 68.48 points or 0.63% at 10,945.46, after scaling a low of 10,876.98 and a high of 10,993.54.

Richemont ended stronger by 2.8% after the company reported higher revenue for the third quarter.

Lonza Group rallied 2.3%, while Partners Group, Sika and SGS gained 1.1 to 1.4%, and Swatch Group gained nearly 1%. Credit Suisse, ABB, Alcon, Novartis and Roche Holding ended with modest gains.

Geberit, Swiss Re, Swiss Life Holding and Givaudan ended weak.

Among the stocks in the Swiss Mid Price Index, Temenos Group gained 2.8%, Sonova climbed 2.3% and OC Oerlikon Corp ended 2.2% up, while VAT Group, Logitech and Schindler Holding gained nearly 2%.

Clariant, Dufry, Tecan Group, Schindler Ps and Ems Chemie Holding also ended on strong note, while Lindt & Spruengli, Vifor Pharma and Swiss Prime lost 1.6%, 1.25% and 0.9%, respectively.

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