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Swiss Market Ends On Buoyant Note
(RTTNews) - Swiss stocks closed on a buoyant note on Wednesday, tracking positive cues from markets across Europe and elsewhere, as optimism about the European Union and the U.S. striking a trade deal rose after U.S. President Donald Trump announced deals with Japan and Philippines.
The "largest ever" U.S. trade deal with Japan features a 15 percent tariff on Japanese exports and includes a commitment from Tokyo to invest $550 billion in the United States and open its markets for American vehicles, rice, and other agricultural goods.
"We have Europe coming in tomorrow, and the next day, we have some other ones coming in," Trump said late on Tuesday, without specifying details.
The benchmark SMI closed with a strong gain of 183.25 points or 1.54% at 12,077.07, slightly off the day's high.
Swatch Group, up more than 6%, was the top gainer in the SMI index. Alcon and Straumann Holding climbed 3.45% and 3.3%, respectively.
Roche Holding and Lonza Group, both gained about 2.85%. Lonza moved higher after the company reported higher sales and earnings. While the company's sales increased by 17% (y-o-y) in the first half, profit increased to CHF 426 million in the first six months, compared to CHF 330 million a year earlier.
Kuehne + Nagel, ABB, Sika, UBS Group, Amrize, Logitech International and Holcim closed with gains ranging from 1.7% to 2.6%.
Swiss Re, Adecco, Sandoz Group, Geberit, Julius Baer, Swiss Life Holding, Partners Group, Richemont and Novartis also ended with impressive gains.
SGS and Lindt & Spruengli closed marginally down.
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