Swiss Market Closes Higher Again

Swiss stocks extended their winning streak to a fourth session, as investors continued to make selective purchases at key counters on Wednesday, looking ahead to the Federal Reserve’s monetary policy announcement.

Recent data showing notable increase in China’s industrial production and retail sales have raised hopes global economy will see a gradual recovery post the coronavirus pandemic.

The benchmark SMI closed up 32.04 points or 0.3% at 10,552.04, after moving between 10,519.03 and 10,580.38.

On Tuesday, the index ended with a gain of 62.57 points or 0.6% at 10,520.00.

Adecco gained about 1.8%. SGS and Credit Suisse both ended nearly 1.5% up. Alcon, Givaudan and Swisscom advanced 1 to 1.1%, while Geberit and Zurich Insurance Group gained 0.85% each. UBS Group gained 0.55%.

Richemont shed about 1.1%, while Novartis, the other loser in the SMI, ended nearly 1% down.

In the midcap index, AMS soared more than 9% following a rating upgrade of the stock by Hauck & Aufhaeuser.

VAT Group gained 4.25%, while Bucher Industries, Lindt & Spruengli, Vifor Pharma, Schindler Holding, Julius Baer and Kuehne & Nagel moved up 1 to 1.7%.

Most of the markets across Europe closed higher today after a choppy ride. Among the major markets in Europe, Germany and France closed with modest gains, while the U.K. ended lower amid persisting concerns about Brexit.

For comments and feedback contact: [email protected]

Source link

Back to top button