On Wednesday, the Swiss market closed on a notably strong note, continuing its upward trend after a marginally positive opening. Data indicating a smaller-than-expected increase in U.S. consumer prices for April alleviated concerns about potential interest rate hikes, fostering a positive market sentiment.
The benchmark Swiss Market Index (SMI) concluded the day with a gain of 115.19 points, or 0.98%, settling at 11,899.26, just shy of the day's peak of 11,906.80.
Leading the charge, Lonza Group surged nearly 5%, while VAT Group and Sonova saw gains of approximately 4.8% and 4.1%, respectively.
Other notable performers included Straumann Holding, Partners Group, Geberit, and Sika, which advanced between 1.8% and 2.25%. Roche Holdings closed up by nearly 1.5%, and ABB increased by 1.35%. Additionally, Holcim, UBS Group, Givaudan, Julius Baer, and Sandoz Group each posted gains ranging from 1% to 1.3%.
Stocks such as Alcon, Nestle, Schindler Ps, Kuehne & Nagel, and Swiss Life Holding also ended on a firm note.
Conversely, Swatch Group, SIG Group, Lindt & Sprüngli, and Novartis finished the day in the red.