The Switzerland stock market ended higher on Wednesday, in line with the trend seen in most of the markets across Europe, as optimism about economic recovery lifted sentiment.
The market stayed positive right through the session to eventually end on a firm note, snapping a six-day losing streak.
The benchmark SMI ended up 118.67 points or 1.12% at 10,727.70, after scaling a low of 10,609.03 and a high of 10,771.25.
Swiss Re, LafargeHolcim, Sika, Credit Suisse, UBS Group and ABB gained 2 to 2.6%. Swiss Life Holding and Swatch Group ended nearly 2% up.
Zurich Insurance Group, Richemont, Geberit, Novartis and Lonza Group gained 1.2 to 1.75%, while Roche Holding ended nearly 1% up.
Among the stocks in the Mid Price Index, Dufry rallied 7.5% and Adecco gained 3.2%, while SIG Combibloc, Julius Baer, BB Biotech, AMS, Flughafen Zurich, Georg Fischer, Schindler Holding and OC Oerlikon Corp moved up 2 to 2.7%.
Temenos Group shares tumbled more than 4%, PSP Swiss Property declined 2.4% and Swiss Prime Site ended lower by 1.25%.
Switzerland’s Federal Council today confirmed its earlier plan to allow shops, museums, library reading rooms, outdoor sports and leisure facilities, zoos and botanical gardens to reopen on 1 March 2021.
The initial reopening phase from 1 March 2021 is focused on activities that allow people to wear masks and maintain social distancing, and that only involve small numbers of people or meeting outdoors.
However, inn view of the precarious epidemiological situation, the Federal Council decided not to open outdoor areas at restaurants from 1 March 2021.
The next stage of reopening is scheduled for 22 March 2021. Consultations with the cantons will begin on 12 March and the Federal Council will take a decision on 19 March 2021.
Swiss Market Snaps 6-day Losing Streak, Ends Notably Higher
2021-02-24 19:00:18
