Swiss Market Climbs To Fresh Record High

(RTTNews) - The Switzerland stock market shrugged off a weak start and climbed to a fresh record high on Wednesday as optimism about growth and earnings helped offset concerns about inflation.

The benchmark SMI, which rose to 12,605.69, ended the day with a gain of 42.81 points or 0.34% at 12,600.15.

Credit Suisse surged up 2.8%. Swisscom gained nearly 2.5%, while ABB, Partners Group, SGS, Logitech, UBS Group, Geberit and Alcon ended higher by 0.6 to 1.25%.

Richemont gained about 0.6%, extending recent gains on brokerage upgrades.

Novartis, Swiss Life Holding, Nestle and Swiss Re closed weak.

Among the stocks in the Mid Price Index, Georg Fischer climbed 2.1%. Tecan Group and Swatch Group both gained about 1.7%. Logitech advanced nearly 1% and Lindt & Spruengli gained 0.7%.

Dufry ended nearly 3% down. Flughafen Zurich, Straumann Holding, Kuehne & Nagel, Temenos Group, Vifor Pharma and AMS ended lower by 1.2 to 1.7%.