Markets

Swiss Market Ends Higher For 2nd Straight Day

(RTTNews) - The Switzerland stock market ended marginally up on Wednesday amid stock specific activity ahead of signing of the first phase of trade deal between the U.S. and China.

Stocks edged lower after a flat start, but recovered and spent most part of the day's session in positive territory, although gains were just modest as investors largely refrained from making significant moves.

The benchmark SMI ended up 14.92 points, or 0.14%, at 10,670.74, after moving between 10,620.35 and 10,691.37.

On Tuesday, the Index ended up 33.41 points, or 0.31%, at 10,655.82, after having started the week on a weak note, losing about 0.16% on Monday.

Richemont, up 2.25%, was the top gainer in the SMI index.

Alcon gained about 1.9%. Roche Holding ended 0.72% up, while Novartis, Nestle and Adecco gained 0.3 to 0.5%.

Credit Suisse declined 1.87%. Zurich Insurance Group, Swiss Life Holding and UBS Group ended lower by 1 to 1.4%, while Swisscom, Swiss Re and LafargeHolcim shed 0.5 to 0.8%.

Among Swiss Mid Price Components, AMS, Vifor Pharma and VAT Group gained 1 to 1.3%. Temenos Group, Sonova, Swatch Group and Partners Group ended with modest gains.

On the other hand, Baloise Holding, Georg Fischer, Dorma Kaba Holding and OC Oerlikon Corp ended lower by about 1.5%. Dufry, Kuehne & Nagel, Bucher Industries and Logitech also closed notably lower.

Among other major markets in Europe, the U.K. ended modestly higher, while France and Germany edged down marginally. The pan European Stoxx 600 ended flat.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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