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Swiss Market Ends Sharply Higher As Stocks Rally On Bargain Hunting

The Switzerland stock market ended on a buoyant note on Wednesday, tracking positive cues from the major markets across Europe.

Hectic bargain hunting after yesterday's sharp setback contributed substantially to market's surge.

The benchmark SMI, which climbed to 10,896.68 in the first hour, stayed firm right through the session to eventually close with a gain of 138.10 points or 1.29% at 10,840.60.

Partners Group, Lonza Group and Logitech rallied 3.5 to 3.8%. Sika and Geberit gained 2.78% and 2.51%, respectively.

Nestle, Alcon, Richemont, Swiss Life Holding, Roche Holding and ABB ended higher by 1.25 to 2%.

Swisscom declined nearly 1%. Swiss Re ended modestly lower, while Holcim and Credit Suisse ended flat.

Straumann Holding surged 4.6%. Temenos Group ended nearly 4% up, while VAT Group, Galenica Sante and Dufry gained 3 to 3.5%.

Ems Chemie Holding, Adecco, BB Biotech, Bachem Holding, Kuehne & Nagel and Zur Rose mvoed up 2 to 3%.

Clariant and Julius Baer ended lower by 1.25% and 1.1%, respectively. Baloise Holding edged down marginally.

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