Swiss Market Ends Modestly Higher

(RTTNews) - The Switzerland stock market ended on a positive note on Wednesday, in line with markets across Europe, as Wednesday's strong data from the U.S. helped ease concerns about a recession in the world's largest economy.

The benchmark SMI, which climbed to 11,242.53 at the start, came of higher levels subsequently, but still ended with a modest gain of 40.90 points or 0.37% at 11,183.55.

Partners Group surged 2.88%, Lonza Group gained about 2.65% and Logitech climbed 2.25%. Sonova, Geberit, Roche Holding, Sika, Alcon and UBS Group ended higher by 1 to 2%.

Swiss Life Holding drifted down 4.4%. Nestle and Zurich Insurance Group both ended lower by about 0.8%, while Swiss Re and Novartis posted modest losses.

In the Mid Price Index, Straumann Holding climbed about 4.3%. VAT Group, Tecan Group and Bachem Holding gained 3.1 to 3.3%.

Temenos Group, Meyer Burger Tech, Belimo Holding, SIG Combibloc, Schindler Holding, DocMorris and Lindt & Spruengli gained 1.4 to 2.5%.

Helvetia ended 1.7% down. Baloise Holding lost nearly 1%, and Swatch Group ended lower by 0.82%.

On the economic front, a report from Credit Suisse & CFA Society said the Swiss investors' sentiment rose by 1.4 points from the previous month to -30.8 in June of 2023, marking the 16th consecutive negative reading.