Swiss Market Closes Modestly Higher
(RTTNews) - Despite struggling for direction for much of the day's trading session, the Switzerland market closed modestly higher on Wednesday as select stocks found some good support in the final hour.
The mood was cautious with investors awaiting further news on the trade front, and the data on Swiss inflation and unemployment, due later in the week.
The benchmark SMI closed up 28.93 points or 0.24% at 11,992.24. The index touched a low of 11,917.49 and a high of 12,013.59 in the session.
Adecco climbed nearly 4.5% and UBS Group closed up 3.45%. Swatch Group, Straumann Holding, VAT Group and Logitech International gained 2 to 3%.
SGS gained nearly 2.5% after the company agreed to acquire Applied Technical Services, the US-based testing, inspection, calibration, and forensics company, for an enterprise value of $1.33 billion.
Holcim gained nearly 2%. Kuehne + Nagel, Julius Baer, Richemont and SIG Group ended higher by 1 to 1.5%. ABB and Novartis posted moderate gains.
Zurich Insurance Group ended down 1.8%. Lonza Group, Swiss Life Holding, Swiss Re, Geberit, Swisscom, Sandoz Group and Sonova lost 0.7 to 1%.
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