The Switzerland market ended on a positive note on Wednesday, in line with most of the markets across Europe, amid expectations of a rate cut by the Federal Reserve in September.
Trading was halted twice in the Swiss market due to a technical issue.
The benchmark SMI ended with a gain of 35.42 points or 0.29% at 12,317.44, after moving in a tight band between 12,282.02 and 12,352.11.
VAT Group rallied about 3.5%. SIG Group advanced nearly 3%, and Sandoz Group gained nearly 2.5%.
Lonza Group, Givaudan and ABB ended almost 1.5% up. Partners Group, Sonova, Schindler Ps, Alcon, Nestle and Logitech International gained 0.5 to 1.2%.
Sika ended down 0.85% and Swiss Re ended lower by 0.55%. Lindt & Spruengli, Zurich Insurance, Richemont and UBS Group edged down marginally.
A report from UBS & CFA Society said the Swiss investors’ sentiment index dropped by 8.1 points from the previous month to 9.4 in June. According to UBS, which collaborates with the CFA Society Switzerland to release the indicator, survey participants were forming a larger consensus that lower short-term rates are anticipated in Switzerland, the Eurozone, and the U.S.
Market Analysis
Swiss Market Ends Higher
2024-07-31 17:15:29
