Swiss Market Ends Modestly Higher Ahead Of SNB Policy Decision

(RTTNews) - Swiss stocks opened on a slightly weak note on Wednesday, but recovered soon and then stayed firm right till the end of the day's session to close modestly higher.

The mood was a bit cautious with investors awaiting the Federal Reserve's policy announcement later in the day, and the Swiss National Bank's policy meeting on Thursday.

The benchmark SMI ended with a gain of 40.83 points or 0.35% at 11,618.63. The index, which edged down to 11,558.50 in early trades, touched a high of 11,635.44 in the session.

Lonza Group climbed about 5.7%. Lonza said it would buy one of the world's largest manufacturing sites for biologic drugs in California from drugmaker Roche for $1.2 billion.

Geberit gained nearly 2%. Holcim, Sika and Swiss Life Holding ended higher by 1.31%, 1.25% and 1.2%, respectively.

Kuehne & Nagel, Roche Holding, Nestle and ABB ended with moderate gains.

Richemont drifted down by about 2.2%. UBS Group ended nearly 1% down. Sonova and Novartis closed lower by 0.7% and 0.48%, respectively.

In the Mid Price Index, Meyer Burger Tech surged 8.5%. BKW and Ems Chemie Holding ended lower by 2.65% and 2.29%, respectively.

ams OSRAM AG advanced nearly 2%. Belimo Holding, Clariant, SGS, Baloise Holding, Tecan Group and SIG Group also ended higher.

Georg Fischer ended down 3.8%. Avolta, Galenica Sante, Swatch Group, Sandoz and Schindler Ps lost 0.6 to 1%.