Swiss Stocks Rise, Led By Novartis

(RTTNews) - Swiss stocks inched higher on Wednesday, edging back near multi-year highs on hopes the European Central Bank will stimulate neighboring economies in June.

The Swiss Market Index (SMI) closed 0.23 percent higher at 8,655.90 points.

SHL Telemedicine lost 0.9 percent despite a large jump in first-quarter revenues to $10.6 million.

Novartis rose 0.9 percent after reporting positive study results for Ultibro Breezhaler.

Julius Baer said it had successfully placed 350 million Swiss francs of subordinated, unsecured debt with private and institutional investors. Shares were down fractionally.

Lonza eased 0.6 percent after providing an update on guidance.