After languishing in negative territory, the Swiss market briefly moved into positive zone around mid afternoon on Wednesday, but faltered soon before rallying in the final hour to end the day’s session with a marginal gain.
The benchmark SMI ended with a gain of 24.12 points or 0.23% at 10,400.93. The index touched a low of 10,289.70 and a high of 10,410.81 in the session.
Logitech International, which ended with a hefty gain on Tuesday, surged nearly 2.5% today. Zurich Insurance Group climbed 1.52%.
UBS Group, Holcim, Swiss Re, Givaudan, Swiss Life Holding, Novartis, ABB and Nestle gained 0.5 to 1.2%.
Lonza Group and Kuehne & Nagel lost 4.81% and 4.6%, respectively. Sika ended down 1.72%, and Alcon drifted down 1.22%.
Among the stocks in the Mid Price Index, Temenos Group climbed 4.16%. SIG Combibloc gained 2.2%, while Sandoz and Lindt & Spruengli both advanced nearly 2%. Helvetia gained 1.1%.
Tecan Group shed 3.63% and AMS ended lower by 3.54%. Straumann Holding, Dufry, Julius Baer, Georg Fischer and Meyer Burger Tech also declined sharply.
According to a report from UBS & CFA Society, the Swiss investors’ sentiment index dropped by 10.2 points from the previous month to -37.8 in October 2023, marking the 20th consecutive negative reading. In the meantime, the current conditions index rose to 15.7 from 10.4 in September.
Market Analysis
Swiss Market Ends Marginally Up On Late Buying
2023-10-25 17:53:50
