Swiss Market Ends On Buoyant Note On All-round Buying

(RTTNews) - The Switzerland stock market ended on a buoyant note on Wednesday, in line with markets across Europe, due largely on bargain hunting after recent losses.

Investors also shifted their focus to earnings, choosing to ignore concerns about inflation and interest rates for now.

The benchmark SMI ended with a gain of 186.40 points or 1.75% at 10,845.59, the day's high.

All the components of SMI closed in positive territory.

Logitech rallied 5.55%. UBS Group, Alcon, Credit Suisse, Lonza Group, Swiss Re, Partners Group, Sika and Richemont gained 2.5% to 4%.

Holcim, Zurich Insurance Group and Geberit ended higher by about 2.1%. Sonova, Givaudan, Swiss Life Holding, Novartis and Nestle also ended with strong gains.

In the Mid Price Index, AMS surged nearly 5%. Swatch Group, Adecco, Bachem Holding, Straumann Holding, Tecan Group, Lindt & Spruengli, Georg Fischer, SIG Combibloc, VAT Group, Helvetia, Baloise Holding, Clariant and Kuehne & Nagel ended higher by 2 to 3%.