Swiss Market Ends On Strong Note

(RTTNews) - After a flat start, the Switzerland market kept edging higher and higher Wednesday, and eventually ended the day's session on a strong note, with investors mostly reacting to corporate news.

The benchmark SMI, which climbed to new record high of 14,142.38, settled with a gain of 207.05 points or 1.49% at 14,117.75.

Givaudan gained nearly 4.5% after the company expanded its hair care palette by introducing a fragrance precursor for hair applications.

Galderma Group moved up 4.71% and Richemont closed higher by a little over 4%.

Alcon gained nearly 4%, while Kuehne + Nagel, Nestle, Geberit, SGS, Amrize, Lonza Group and Sandoz Group closed up by 2.5%-3.6%.

Sika, Straumann Holding, Roche, Lindt & Spruengli and Swiss Re also moved up sharply.

Holcim, UBS Group and Logitech International ended lower by 1.58%, 1.27% and 1.04%, respectively. Julius Baer, Partners Group and Swiss Life Holding also closed weak.

A report from UBS & CFA Society Switzerland said Swiss investor sentiment deteriorated to -25.0 in June from -11.1 in May, remaining firmly in negative territory. The expectations index declined by 13.9 points on the month, partially reversing the improvement recorded over the previous two months.

Meanwhile, assessments of current economic conditions improved, with the current conditions gauge rising to 2.8 in June from -2.8 in May.