(RTTNews) - The Switzerland market ended on a strong note on Wednesday with stocks holding firm right through the day's session after a positive start. A slew of encouraging global economic data, and optimism about a sharp interest rate cut by the Federal Reserve in September helped underpin sentiment.
The benchmark SMI ended with a gain of 143.69 points or 1.2% at 12,071.83. The index touched a low of 11,975.96 and a high of 12,085.62.
Straumann Holding soared 13.34%. The dental implant maker raised its guidance for 2024 and also announced the sale of its DrSmile aligner business.
UBS Group climbed about 5.3% after reporting a $1.1 billion net profit last quarter, about double what analysts expected.
Sandoz Group rallied 3.7%. Julius Baer ended up 2.24%. Sonova gained 1.8% and Swiss Re ended higher by 1.53%. VAT Group, Zurich Insurance, Partners Group, Kuehne + Nagel, Sika, Swisscom, Novartis, Swatch Group, ABB and Swiss Life Holding gained 1 to 1.5%.
Geberit, Holcim, Richemont, Givaudan, Lindt & Spruengli, Alcon, Schindler Ps, Nestle and Roche GS advanced 0.57 to 1%.
SIG Group, Roche Holding and Logitech International edged down marginally.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
