The Swiss stock market remained strong on Wednesday, rising 12 times in a row as investors remained optimistic about the economic recovery.
After opening at a slightly higher price, the market was slightly sluggish until mid-morning, but as the session progressed, the market continued to rise and set a new peak.
Investors were also looking forward to the Federal Reserve Board’s announcement of monetary policy and an accompanying statement on central bank clues about the future outlook for inflation, interest rates and quantitative easing.
Benchmark SMI closed at 11,982.03 with an increase of 60.06 points or 0.5% after reaching a new high of 11,995.82.
Zurich Insurance Group, Novartis and Roche Holding increased 1-1.2%. Both Swiss Re and Swiss Life Holding rose almost 1%.
Holcim, Lonza Group, Swisscom and Sika rose 0.7 to 0.85%. Geberit, Archon and Givaudan also finished steadily.
ABB has fallen by more than 1%. UBS Group and Credit Suisse fell 0.65% and 0.58%, respectively.
Among the stocks in the medium price index, Helvetia rose 2.2%. Ems-Chemie Holding, Duffy and Barry Callebaut increased by 1.1-1.5%. Baloise Holding, Tecan Group, SIG Combibloc and Vifor Pharma also rose significantly.
Julius Baer, AMS, BB Biotech and Phonak fell 0.7-1%.
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Swiss market hit record high and profits expanded for 12 consecutive days
Source link Swiss market hit record high and profits expanded for 12 consecutive days