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Swiss Market Ends Modestly Higher

The Switzerland stock market ended modestly higher on Wednesday despite suffering a few setbacks during the course of the day's session.

The benchmark SMI ended up by $28.99 points or 0.23% at 12,395.72. The index, which advanced to 12,424.75 in early trades, dropped to a low of 12,336.80 later on in the day before emerging into positive territory again.

Holcim gained 1.73%, UBS Group climbed 1.41%, Roche Holding gained 1.13% and Richemont advanced 1.1%.

Swiss Life Holding and Swisscom both gained nearly 1%. Credit Suisse, Zurich Insurance Group and Swiss Re also ended notably higher.

Lonza Group, ABB, Novartis, Nestle and Givaudan ended lower by 0.4 to 0.65%.

Among the stocks in the Swiss Mid Price Index, Lindt & Spruengli gained nearly 2%. Julius Baer and Swiss Prime Site both moved up nearly 1.3%. PSP Swiss Property, Tecan Group, Georg Fischer and BB Biotech gained 0.7 to 1%.

Vifor Pharma declined more than 5%. AMS shed about 3.4% and SIG Combibloc slid 2.1%. Clariant, OC Oerlikon Corp and Galenica Sante also ended notably lower.

In economic news, a report from Credit Suisse & CFA Society Switzerland said Swiss investor sentiment index declined by 26.4 points from the previous month to -10.8 in November, the lowest since March of 2020. On the other hand, the assessment of current of the economic situation increased to 54.1 from 50 in October.

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