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Swiss Market Ends On Firm Note

The Switzerland stock market shrugged off a weak start and gained in strength gradually as the session progressed on Wednesday to sign off on a firm note.

The market tracked a largely positive trend across Europe, even as the undertone remained a bit cautious with investors looking ahead to quarterly earnings updates.

The benchmark SMI, which tumbled to a low of 11,677.87 early on in the session, ended with a gain of 57.83 points or 0.49% at 11,814.59.

Richemont and Lonza Group both gained nearly 3%.

Partners Group climbed 2.4% and Sika gained 2.3%. ABB gained 1.8%, Logitech advanced 1.6% and Givaudan ended 1.4% up, while SGS and Geberit ended higher by 1.1% and 0.98%, respectively.

Credit Suisse declined 1.7%, while Swiss Re, Swiss Life Holding, UBS Group, Zurich Insurance Group and Roche Holding shed 0.4% to 0.7%.

In the Mid Price Index, VAT Group climbed nearly 5%, Temenos Group gained 4.25%, Tecan Group advanced 3.8% and Straumann Holding moved up 3.7%, while SIG Combibloc gained nearly 3%.

Sonova, Lindt & Spruengli, Logitech and Georg Fischer also posted strong gains.

Flughafen Zurich, Dufry and Helvetia ended lower by 1.95%, 1.56% and 1.25%, respectively. Baloise Holding and Cembra Money Bank also closed weak.

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