The Switzerland stock market ended higher on Wednesday, extending gains to a fourth straight session, amid continued optimism about global economic recovery.
A report from Credit Suisse & CFA Society Switzerland said the Swiss investor sentiment index rose by 3.9 points from the previous month to a new record high of 72.2 in May 2021, pointing to a strong economic recovery over the next six months.
The benchmark SMI, which hit a fresh record high at 11,382.32, ended the session with a gain of 43.00 or 0.38% at 11,348.74.
Richemont shares climbed more than 3%, as investors continued to pick up the stock following strong quarterly results. SGS advanced 2.05%, Swatch Group gained 1.85% and Alcon moved up 1.1%. Novartis, Sika, Givaudan, Roche Holding and Lonza Group ended with modest gains.
UBS Group shares declined 1.3%. Credit Suisse shed 0.5% and Swiss Life Holding ended 0.3% down.
In the Mid Price Index, Logitech rallied 3.2%. Kuehne & Nagel gained 2.3% and Lindt & Spruengli gained 1.75%, while Temenos Group, OC Oerlikon Corp, SIG Combibloc, Straumann Holding, Vifor Pharma, BB Biotech and Schindler Holding gained 0.9 to 1.4%.
Julius Baer declined 2.2%, while Cembra Money Bank and Helvetia shed 1% and 0.8%, respectively.
The Swiss government announced relaxation of more Covid-19 related restrictions from Monday, 31 May 2021. The Federal Council said it is going further than proposed in the consultation, particularly with regard to events, private gatherings and restaurants. The government said better than expected epidemiological data have made greater easing of restrictions possible.
According to health authorities, the number of new cases reported in Switzerland today dipped below 1,000 for the first time since October 2020.
Swiss Market Ends Higher For 4th Straight Session
2021-05-26 18:21:06
