Swiss Market Shrugs Off Mid-session Setback, Ends On Firm Note
(RTTNews) - The Switzerland stock market ended on a firm note on Wednesday, with investors betting on a positive outcome from the ongoing U.S.-China trade talks and on slightly easing worries about global economic growth.
The benchmark SMI ended up 33.52 points, or 0.35%, at 9,570.09, shrugging off a setback it suffered midway through the session.
On Tuesday, the index ended down 1.54 points, or 0.01%, at 9,536.57, snapping a five-day winning streak.
Julius Baer, the top gainer in the SMI, moved up more than 4%. The stock will move of the index on April 10 and will be replaced by shares of Novartis spin-off Alcon.
Adecco gained about 2.6% and ABB advanced 2.15%.
LafargeHolcim, Credit Suisse, UBS Group and Sika ended stronger by 1.2 to 1.75%.
Lonza Group shares declined more than 1%. Lonza and Chr. Hansen said they have formed a joint venture to accelerate momentum in microbiome, investing about 90 million euros over three years.
Most of the markets across Europe ended with solid gains today. The pan European Stoxx 600 ended up 1.01%.
Among the major indices in Europe, Germany's DAX climbed up 1.7%. France's CAC 40 advanced 0.84% and the U.K.'s FTSE closed up 0.37%.
On the trade front, people briefed on the trade talks told the Financial Times top U.S. and Chinese officials have resolved most of the issues standing in the way of a deal to end their long-running trade dispute.
Officials are reportedly still haggling over how to implement and enforce the agreement.
The Financial Times said the two sides remain apart on two key issues: the fate of existing U.S. tariffs on Chinese goods and the terms of an enforcement mechanism demanded by Washington to ensure that China abides by the deal.