Swiss Market Extends Gains To 7th Session, Closes At New All-time High

Despite opening lower, the Switzerland stock market swiftly recovered and rallied well to close on a strong note on Wednesday, extending gains to a sixth straight day, amid continued optimism about economic recovery.

The benchmark SMI ended at a new all-time high at 11,788.10, gaining 131.21 points or 1.13%.

Lonza Group and Roche Holding climbed 3.3% and 3.1%, respectively. Novartis ended stronger by 2.3%, while Givaudan and Holcim gained 1.6% and 1.4%, respectively.

Richemont, Swisscom and Nestle posted moderate gains, while Swiss Re, Credit Suisse, UBS Group, Swiss Life Holding and Zurich Insurance Group ended notably lower.

Among the stocks in the Swiss Mid Price Index, Dufry soared nearly 9.5%. Flughafen Zurich climbed 3.6%, Logitech gained 2.7%, BB Biotech surged up 2.5% and Vifor Pharma advanced 2.1%. Sonova, Kuehne & Nagel and PSP Swiss Property also closed with strong gains.

Julius Baer, Helvetia, SIG Combibloc, AMS, Clariant and VAT Group closed weak.

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