The Switzerland stock market suffered a setback and briefly slipped into negative territory around mid afternoon on Wednesday, but recovered swiftly and ended the day’s session on a firm note as buying resumed again.
The mood was positive, mirroring the trend across Europe, amid continued optimism about global economic recovery. Reports that Switzerland is looking to expand its economic re-opening contributed as well to the positive mood.
The Swiss government has announced plans to re-open indoor dining in restaurants, permit higher attendance at public events and ease work-from-home requirements thanks to falling infections and hospitalisations rates.
The benchmark SMI ended down 44.58 points or 0.41% at 11,033.90, after scaling a low of 10,981.90 and a high of 11,069.24 intraday.
Credit Suisse gained about 1.8%. Novartis, UBS Group, Swisscom and Swiss Life Holding gained 1 to 1.5%, while Roche Holding, Swiss Re, Geberit, Lonza Group and Swatch Group ended higher by 0.4 to 0.8%.
Partners Group declined by about 1.9% and Alcon shed about 1.25%. Givaudan, Richemont and SGS also closed weak.
In the Mid Price section, Julius Baer gained nearly 2%, while Galenica Sante and Vifor Pharma both ended higher by 1.6%. Clariant, Flughafen Zurich, BB Biotech and Lindt & Spruengli also closed on firm note.
Ems Chemie Holding and Logitech both declined by about 4%. Dufry ended 2.2% down and VAT Group closed nearly 2% down. SIG Combibloc and Sonova also ended notably lower.
Market Analysis
Swiss Market Ends On Firm Note
2021-05-12 18:24:02
