FX.co ★ Swiss Market Ends Higher

On Wednesday, the Swiss market concluded positively, aligning with most European markets, amid predictions of a potential rate cut by the Federal Reserve in September.

The Swiss market faced two trading halts due to technical issues.

The benchmark Swiss Market Index (SMI) closed with a gain of 35.42 points, or 0.29%, settling at 12,317.44. It fluctuated within a narrow range between 12,282.02 and 12,352.11 throughout the session.

Among the notable performers, VAT Group surged approximately 3.5%, while SIG Group advanced nearly 3%, and Sandoz Group saw gains close to 2.5%.

Lonza Group, Givaudan, and ABB each saw an increase of about 1.5%, whereas Partners Group, Sonova, Schindler Ps, Alcon, Nestle, and Logitech International recorded gains ranging from 0.5% to 1.2%.

Conversely, Sika fell by 0.85%, and Swiss Re decreased by 0.55%. Lindt & Sprüngli, Zurich Insurance, Richemont, and UBS Group experienced slight declines.

According to a report by UBS and the CFA Society, the Swiss investors' sentiment index dropped by 8.1 points from the previous month, landing at 9.4 in June. UBS, in collaboration with the CFA Society Switzerland, noted that survey participants increasingly believe that lower short-term rates are expected in Switzerland, the Eurozone, and the U.S.