Swiss Market Ends On Firm Note
(RTTNews) - The Switzerland market closed on a firm note on Wednesday, despite struggling for support mid way through the day's trading session. Investors largely made their moves, reacting to the most recent earnings updates.
The benchmark SMI, which stayed above the flat line the entire duration of the session, settled with a gain of 92.44 points or 0.78% at 11,978.85, near the day's high.
Amrize climbed nearly 6%. Amrize is reportedly entering a partnership with Meta Platforms aimed at engineering a highly optimized AI-driven concrete mix.
Schindler Ps, Zurich Insurance, Novartis, Roche Holding, Richemont, Alcon and Swiss Re gained 1 to 1.5%.
Lonza Group, Nestle, SGS and Swiss Life Holding closed higher by 0.3 to 0.9%.
Straumann Holding tumbled more than 8% as its first-half earnings fell below expectations. The dental implant maker reported EBIT of 358 million francs in the first half, slightly less than the expected earnings of 365 million francs.
VAT Group, Partners Group and Givaudan lost 0.9 to 1.22%. ABB, Adecco, Sika and Geberit also closed weak.
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