The Switzerland stock market opened on a firm note on Wednesday and gained in strength as the session progressed to eventually close on a buoyant note.
A firm trend across Europe amid a sharp drop in commodity prices helped lift sentiment despite lingering concerns about the ongoing war between Russia and Ukraine.
The benchmark SMI opened more than 100 points up at 11,164.63, ended the day with a gain of 436.30 points or 3.95% at 11,493.37, the day’s high.
Among the SMI components, Only Geberit, which ended 1.81% down, and Swisscom, which settled flat, failed to make it to the positive territory.
Richemont soared 12.6%. Credit Suisse climbed 7.14% and UBS Group surged up 5.73%. Logitech, Lonza Group and Holcim gained 5.4 to 5.6%.
Swiss Re, Zurich Insurance Group, ABB, Nestle, Partners Group, Alcon, Swiss Life Holding, SGS and Roche Holding gained 3 to 4.8%.
All the components of the Swiss Mid Price Index closed higher. Dufry, up 10.7%, was the top gainer. Temenos Group, Zur Rose and Clariant moved up 9.2 to 9.63%.
Swatch Group gained 9.1%, while VAT Group, Georg Fischer, Straumann Holding, Sonova, Adecco, Julius Baer, AMS and Helvetia ended higher by 6 to 7.8%.
All the markets across Europe closed higher today. Among the major indices, the pan European Stoxx 600 surged up 4.68%. The U.K.’s FTSE 100 advanced 3.25%, Germany’s DAX soared 7.92% and France’s CAC 40 climbed 7.13%.
Swiss Market Ends On Strong Note
2022-03-09 18:01:22
