The Switzerland stock market, which briefly rebounded into positive territory after a weak start Thursday morning, suffered another setback post noon but recovered to close at a new high thanks to some brisk buying in the final hour of the session.
Optimism about economic recovery amid a drop in coronavirus cases and acceleration in vaccine rollout supported the market.
The benchmark SMI Index ended with a gain of 40.25 points or 0.35% at 11,510.60. The index touched a low of 11,424.81 in the session.
UBS Group and Roche Holding gained 1.2% and 1.1%, respectively. Swisscom advanced nearly 1%, while Credit Suisse, Novartis and Partners Group closed higher by 0.7 to 0.85%.
Richemont shed about 1%. Sika, Alcon, Lonza Group and Swatch Group lost 0.6 to 0.75%.
Among Swiss Mid Price Index components, Logitech gained about 1.85%, AMS and Vifor Pharma both moved up by about 1.6%, Kuehne & Nagel climbed 1.2% and Temenos Group advanced 1%.
Flughafen Zurich lost 2.2%, Dufty declined 1.54% and Tecan Group ended 1.47% down. Swiss Prime Site, Georg Fischer, Lindt & Spruengli and BB Biotech also closed notably lower.
Swiss Market Ends At New High
2021-06-03 18:20:30
