Swiss Market Ends Modestly Higher After Choppy Ride
(RTTNews) - The Switzerland market ended modestly higher on Wednesday despite struggling for direction after a fall from earlier high levels. Concerns about tensions in the Middle East, and a lack of positive triggers rendered the mood cautious. Investors looked ahead to the inflation data, due on Thursday, for directional clues.
The benchmark SMI, which advanced to 12,159.78 in early trades after a marginally positive start, dropped to 12,055.56 around late afternoon, but recovered to settle at 12,122.09, gaining 35.43 points or 0.29%.
Julius Baer, Richemont and Swatch Group gained 2 to 2.1%. Sonova climbed 1.83%, while UBS Group and SIG Group ended up 1.39% and 1.18%, respectively.
ABB gained about 0.75% after the company signed a memorandum of understanding with artificial intelligence provider Carbon Re to collaborate on reducing carbon emissions in the cement industry.
Logitech International, SGS, VAT Group, ABB, Lindt & Spruengli, Novartis and Straumann Holding gained 0.4 to 1%.
Sandoz Group dropped about 3.2%. Givaudan, Swiss Re, Swisscom, Lonza Group, Swiss Life Holding, Adecco, Kuehne + Nagel and Holcim lost 0.5 to 0.9%.
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