The Switzerland market shrugged off an early weak spell and moved higher on Wednesday with select stocks finding good support as the session progressed.
The benchmark SMI ended with a gain of 28.41 points or 0.24% at 11,790.46 after scaling a low of 11,735.91 and a high of 11,799.91 intraday.
Lonza Group rallied 2.77%. ABB, Nestle, Swiss Re, Logitech International and Swiss Life Holding gained 1 to 1.3%.
Richemont and Holcim both ended nearly 1% up. Partners Group, Sonova, UBS Group, Sika and Zurich Insurance Group posted modest gains.
Geberit ended down 2.1%. Roche Holding and Kuehne & Nagel drifted down 1.53% and 1.37%, respectively. Novartis and Alcon ended modestly lower.
In the Mid Price Index, Sandoz climbed 3.17% after the company reported a 10% increase in net sales to US$ 2.5 billion in the fourth quarter of 2023.
ams OSRAM AG and SIG Group gained 2.74% and 2.35%, respectively. Lindt & Spruengli, Ems Chemie Holding, Temenos Group, Swiss Prime Site and Straumann Holding climbed 1 to 1.7%.
Meyer Burger Tech dropped 5.5%. BKW ended down 2.1%, while Tecan Group closed lower by 1.55%.
Market Analysis
Swiss Market Ends Modestly Higher
2024-03-13 17:52:21
