Swiss Market Ends On Firm Note

(RTTNews) - Swiss stocks turned in a fine performance on Wednesday, as investors indulged in some strong buying at several counters, focusing on earnings and other corporate news, while awaiting the monetary policy announcement from the Federal Reserve later in the day.

Data showing an improvement in Swiss investor sentiment supported the market.

The benchmark SMI closed up 74.88 points or 0.6% at 12,530.32. The index touched a low of 12,463.87 and a high of 12,554.33 in the session.

Logitech International rallied more than 7.5% after third-quarter profit beat expectations. The company's earnings came in at $200.1 million, or $1.32 per share, compared with $244.7 million, or $1.55 per share, last year.

Excluding items, Logitech International SA reported adjusted earnings of $241.5 million or $1.59 per share for the period. Analysts on average had expected the company to earn $1.36 per share.

ABB climbed about 2.15%. VAT Group gained 1.8%, while Julius Baer and Richemont advanced 1.52% and 1.42%, respectively.

Novartis, Zurich Insurance Group, Adecco, UBS Group, Partners Group, SGS and Geberit closed higher by 0.7 to 1.1%.

Lonza Group ended down 2.62%. The company posted a year-over-year decline in 2024 sales to 6.57 billion francs from 6.72 billion francs, weighed down by its capsules and health ingredients division amid market headwinds. Profit attributable to equity holders fell over the period to 636 million francs from 654 million francs.

Givaudan closed lower by 1.02%. Straumann Holding, Schindler Ps, Sonova, Swatch Group and Sika ended modestly lower.

A report from UBS & CFA Society said the Swiss investors' sentiment index climbed by 37.7 points from the previous month to 17.7 in January 2025, ending a five-month sequence in negative territory.