Swiss Market Ends On Strong Note

(RTTNews) - The Switzerland market ended on a strong note on Wednesday with stocks holding firm right through the day's session after a positive start. A slew of encouraging global economic data, and optimism about a sharp interest rate cut by the Federal Reserve in September helped underpin sentiment.

The benchmark SMI ended with a gain of 143.69 points or 1.2% at 12,071.83. The index touched a low of 11,975.96 and a high of 12,085.62.

Straumann Holding soared 13.34%. The dental implant maker raised its guidance for 2024 and also announced the sale of its DrSmile aligner business.

UBS Group climbed about 5.3% after reporting a $1.1 billion net profit last quarter, about double what analysts expected.

Sandoz Group rallied 3.7%. Julius Baer ended up 2.24%. Sonova gained 1.8% and Swiss Re ended higher by 1.53%. VAT Group, Zurich Insurance, Partners Group, Kuehne + Nagel, Sika, Swisscom, Novartis, Swatch Group, ABB and Swiss Life Holding gained 1 to 1.5%.

Geberit, Holcim, Richemont, Givaudan, Lindt & Spruengli, Alcon, Schindler Ps, Nestle and Roche GS advanced 0.57 to 1%.

SIG Group, Roche Holding and Logitech International edged down marginally.