Swiss Market Ends On Firm Note

(RTTNews) - The Switzerland market ended on a firm note on Tuesday with stocks recovering from recent losses thanks to bargain hunting.

The mood, however, remained cautious due to lingering concerns about growth, rising inflation and the impact of the Ukraine war and the lockdown in China.

The benchmark SMI ended with a gain of 97.54 points or 0.85% at 11,541.72, after scaling a low of 11,478.76 and a high of 11,655.62 intraday.

Geberit rallied 3.25% and Swiss Re climbed nearly 2.5%. Holcim, Givaudan, Roche Holding, UBS Group and Richemont gained 1.5 to 2.2%.

Zurich Insurance Group, ABB, Swiss Life Holding, Swisscom, Lonza Group and Novartis also closed notably higher, while Alcon drifted down 1.51%.

Among the stocks in the Swiss Mid Price Index, Tecan Group rallied 4.25% and Straumann Holding surged up 3.6%. Schindler Ps gained nearly 2%.

Schindler Holding, VAT Group, Swatch Group, Clariant and AMS gained 1.3 to 1.7%.

Zur Rose plunged nearly 16%. Flughafen Zurich ended 2.5% down.