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Swiss Market Ends Higher Again

The Switzerland stock market ended higher on Wednesday, in line with markets across Europe, as investors focused on upcoming monetary policy announcement from the Federal Reserve, and awaited Swiss National Bank's policy move.

The Swiss National Bank is scheduled to announce its rate decision on Thursday.

The benchmark SMI ended with a gain of 48.40 points or 0.41% at 11,837.57. The index, which advanced to 11,876.89 in early trades, dropped to a low of 11,797.99 around mid afternoon before edging higher again.

Credit Suisse and UBS Group gained 2.6% and 2.4%, respectively. Richemont climbed 2.1%, while Logitech gained nearly 2%.

Swiss Re, Holcim, Zurich Insurance Group and Swiss Life Holding gained 1.5 to 1.8%, while ABB ended with a gain of about 1.2%.

Givaudan declined 1.24%, while Novartis, Geberit and Alcon shed 0.25 to 0.6%.

Among the stocks in the Mid Price Index, Dufry rallied 4.8%, while Georg Fischer, AMS and Adecco gained 2.3 to 2.6%.

Clariant, Helvetia, Julius Baer, Zur Rose, Logitech, Swatch Group and Cembra Money Bank gained 1.7 to 2.2%. OC Oerlikon Corp and Baloise Holding also ended notably higher.

Data from Swiss National Bank showed Switzerland's current account surplus widened to CHF 10.51 billion in the June quarter of 2021, from CHF 3.21 billion in the same period last year.

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