Swiss Market Ends On Positive Note
(RTTNews) – The Switzerland stock market ended on a positive note on Wednesday, in line with the trend seen across Europe, as continued optimism about global economic recovery underpinned sentiment.
The benchmark SMI ended with a gain of 35.47 points or 0.31% at 11,470.35, after climbing to a high of 11,495.31.
Richemont shares climbed 1.7%. Novartis ended nearly 1% up and ABB gained 0.8%. Nestle and Swisscom both moved up by about 0.7%.
Swiss Life Holding, Partners Group and Alcon shed 0.7 to 0.85%. Swiss Re, Zurich Insurance Group, UBS Group, Swatch Group, Sika and SGS posted modest losses.
In the Mid Cap Index, Logitech rallied more than 3%, Lindt & Spruengli gained 2.1% and OC Oerlikon Corp ended nearly 2% up. Dufry, Swiss Prime Site, Kuehne & Nagel, Schindler, SIG Combibloc and PSP Swiss Property also posted notable gains.
Tecan Group and Sonova both ended lower by about 1.6%. Julius Baer, Temenos Group, Straumann Holding and Adecco also closed weak.
The procure.ch Manufacturing PMI in Switzerland rose to an all-time high of 69.9 in May of 2021, from 69.5 in the previous month and just under market expectations of 70.0, amid a quickening rebound of factory activity from the COVID-19 downturn.