FX.co ★ Swiss Market Ends Modestly Higher

The Swiss market managed to recover from an initial downturn and saw a rise on Wednesday as certain stocks received significant support throughout the session.

The key SMI indicator finished with an increase of 28.41 points or 0.24%, hitting 11,790.46 after reaching a low of 11,735.91 and a peak of 11,799.91 within the day.

Shares in Lonza Group experienced a 2.77% increase. Similarly, ABB, Nestlé, Swiss Re, Logitech International, and Swiss Life Holding all saw gains between 1% and 1.3%. Richemont and Holcim also ended the day almost 1% higher. Additionally, Partners Group, Sonova, UBS Group, Sika, and Zurich Insurance Group all saw slight increases.

However, Geberit's shares decreased by 2.1%. Roche Holding and Kuehne & Nagel also experienced decreases of 1.53% and 1.37% respectively, while Novartis and Alcon ended slightly lower.

In relation to the Mid Price Index, Sandoz jumped 3.17% following the company's announcement of a 10% increase in net sales to US$2.5 billion in the fourth quarter of 2023.

Shares in ams OSRAM AG and SIG Group also rose, gaining 2.74% and 2.35% respectively. Similarly, Lindt & Spruengli, Ems Chemie Holding, Temenos Group, Swiss Prime Site, and Straumann Holding saw gains ranging from 1% to 1.7%.

However, Meyer Burger Tech's shares saw a significant drop of 5.5%. The shares of BKW ended 2.1% lower, while Tecan Group's shares closed 1.55% lower.