Swiss Market Hits Fresh Record High, Extends Gains To 12th Straight Day

The Switzerland stock market ended on a firm note on Wednesday, extending gains to a twelfth straight session, as investors continued to bet on optimism about economic recovery.

After opening slightly higher, the market was a bit sluggish till about mid morning, but kept climbing higher as the session progressed to record another new peak.

Investors also looked ahead to the Federal Reserve's monetary policy announcement, and accompanying statement for clues about the central bank's future outlook for inflation, interest rate and QE.

The benchmark SMI ended with a gain of 60.06 points or 0.5% at 11,982.03, after hitting a new high of 11,995.82.

Zurich Insurance Group, Novartis and Roche Holding gained 1 to 1.2%. Swiss Re and Swiss Life Holding both ended nearly 1% up.

Holcim, Lonza Group, Swisscom and Sika advanced 0.7 to 0.85%. Geberit, Alcon and Givaudan also ended on firm note.

ABB ended more than 1% down. UBS Group and Credit Suisse ended lower by 0.65% and 0.58%, respectively.

Among the stocks in the Mid Price Index, Helvetia climbed 2.2%. Ems Chemie Holding, Dufry and Barry Callebaut gained 1.1 to 1.5%. Baloise Holding, Tecan Group, SIG Combibloc and Vifor Pharma also closed notably higher.

Julius Baer, AMS, BB Biotech and Sonova ended lower by 0.7 to 1%.

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