Swiss Market Ends On Firm Note
(RTTNews) - After a weak start and a subsequent drop to lower levels, the Switzerland market recovered and stayed subdued till around mid morning on Wednesday, but kept edging higher as the day progressed to eventually ended the session on a firm note.
Optimism about a potential peace deal between Russia and Ukraine supported the market. Investors also looked ahead to the Federal Reserve's Jackson Hole Symposium that gets underway on Thursday.
The benchmark SMI settled with a gain of 64.07 points or 0.52% at 12,276.26. The index, which dropped to 12,154.86 in early trades, touched a high of 12,299.60 in the session.
Nestle climbed about 3.6% and Lindt & Spruengli gained 3.1%. Givaudan closed stronger by 2.52%, while SGS and Lonza Group both gained nearly 2.2%.
Novartis, Zurich Insurance, Swiss Re, Schindler Ps and Swisscom gained 1.1 to 1.5%. Roche Holding and Sonova posted moderate gains.
Amrize and Geberit closed down by 3.56% and 3.04%, respectively. Straumann Holding and ABB ended 1.25% down from their previous closing levels.
Logitech International, Partners Group, VAT Group, Holcim, SIG Group, Richemont, Sika and UBS Group also closed notably lower.
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