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Swiss Market Ends Modestly Higher
(RTTNews) - After a firm start and a subsequent fall into the red Tuesday morning, the Switzerland market recovered and stayed positive till the end of the session to finish modestly higher.
The Swiss National Bank (SNB), which is scheduled to announce its monetary policy on Thursday (June 20), is widely expected to cut its policy rate by 25 basis points.
The benchmark SMI ended with a gain of 35.61 points or 0.3% at 12,039.13. The index touched a high of 12,048.75 and a low of 11,996.51 in the session.
Swatch Group rallied 3.6%. ABB, Swiss Life Holding, VAT Group, Sandoz Group, Roche Holding, Kuehne & Nagel, Partners Group and Swiss Re gained 1 to 1.7%.
Julius Baer, Lonza Group, Zurich Insurance Group, Sika and SGS ended higher by 0.6 to 1%.
Zurich Insurance Group ended modestly higher. The group has reportedly agreed to sell its Edificio Zurich office building in Madrid to investment company Besant Capital for 100 million euros. The sale is set to close in the coming days.
Schindler Ps ended down 1.43%. Richemont, Novartis, Straumann Holding and Lindt & Spruengli ended down 0.28 to 0.6%.
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