Swiss Market Ends Marginally Up After Choppy Ride

(RTTNews) - The Switzerland market, which stayed in positive territory on Wednesday, save for a few minutes early on in the session and a brief while past noon, ended the day with a marginal gain thanks to some brisk buying at a few counters in the final hour.

The benchmark S&P/TSX Composite Index ended with a gain of 21.87 points or 0.19% at 11,616.87. The index touched a low of 11,583.33 and a high of 11,629.43 in the session.

Kuehne & Nagel, up 3.37%, was the top gainer among the SMI components. Lonza Group climbed 2.03%. Richemont, Alcon, Logitech International, Geberit, UBS Group and Holcim gained 1 to 1.25%.

Swiss Re drifted down 3.55% after an announcement that Andreas Berger will become Group Chief Executive Officer effective 1 July 2024.

Zurich Insurance Group ended down by 1.1%. Nestle and Roche Holding closed lower by 0.61% and 0.31%, respectively.

In the Mid Price Index, Clariant gained 3.34%. Avolta surged nearly 3% and Swatch Group climbed 2.59%. Ems Chemie Holding, ams OSRAM AG, SIG Group, PSP Swiss Property, VAT Group and SGS gained 1 to 1.6%.

Meyer Burger Tech tanked more than 25%. The Swiss solar panel maker said it had successfully completed a capital increase through a rights issue.

Barry Callebaut dropped 4.28%. Tecan Group, Lindt & Spruengli, Temenos Group and Georg Fischer lost 1.3 to 1.9%.