FX.co ★ Swiss Market Ends On Firm Note

On Wednesday, Swiss stocks made significant gains after a steady start, drawing strength from positive worldwide cues and an anticipation that global central banks will commence interest rate reductions in the second quarter.

The benchmark SMI (Swiss Market Index) initiated the session at 11,463.01 and closed the day on a high note, accruing 82.73 points, a 0.72% increase to settle at 11,546.47.

Logitech International led the pack with a surge of about 3.75%. This was followed by Givaudan, Partners Group, and Geberit, which appreciated 1.4 to 1.65%. Nestle, Sika, Kuehne & Nagel, Alcon, UBS Group, Zurich Insurance Group, ABB, and Swiss Re also gained ground, with increases ranging from 0.75 to 1%.

On the downside, Lonza Group and Holcim dipped slightly, while Richemont concluded the day with no net change.

In the mid-price index, Belimo Holding enhanced its value by 3.5%, VAT group advanced 3.2%, whereas Meyer Burger Tech and Avolta made gains of about 3% and 2.8% respectively.

Chocolatier company Lindt & Spruengli appreciated around 2%, while Straumann Holding, Georg Fischer, Sandoz, ams OSRAM AG, and Tecan Group added 1.5 to 1.85% to their stocks. Julius Baer saw an increase of near 1%.

However, Flughafen Zurich depreciated by 1.74%, while Galenica Sante and Swatch Group faced losses of 1% and 0.9%, respectively.