Swiss Market Ends On Positive Note

(RTTNews) - The Switzerland stock market ended modestly higher on Tuesday despite struggling for direction earlier in the session.

Rising optimism about the U.S. Federal Reserve turning less aggressive with rate hikes helped lift sentiment.

The benchmark SMI ended with a gain of 26.63 points or 0.24% at 11,026.22 after scaling a low of 10,991.74 and a high of 11,087.42 intraday.

Sonova surged 1.61% and Lonza Group climbed nearly 1.5%. Novartis, UBS Group and Roche Holding gained 1.1%, 0.98% and 0.67%, respectively, while Logitech ended modestly higher.

Swiss Re ended more than 1% down. Givaudan and Swiss Life Holding both ended lower by about 0.7%, while Zurich Insurance Group, Alcon, Swisscom and Sika posted modest losses.

Among the stocks in the Mid Price Index, Bachem Holding surged 3.62%. PSP Swiss Property and Straumann Holding gained 1.81% and 1.61%, respectively. Galenica sante and Swiss Prime Site both gained a little over 1%.

Zur Rose tanked 12.9%. SIG Combibloc ended 5.79% down, and Swach Group declined 2.4%. Adecco, AMS, Dufry, Lindt & Spruengli and Schindler Ps also ended notably lower.