Swiss Market Ends Marginally Up

(RTTNews) - The Switzerland stock market pared early gains and after a choppy ride, ended slightly up on Wednesday, with investors largely making cautious moves amid lingering geopolitical tensions, and worries about inflation and looming interest rate hikes.

The benchmark SMI, which climbed to 12,268.67 in early trade, ended the day with just a small gain of 9.71 points or 0.08% at 12,191.57.

Alcon rallied 2.1%. Novartis gained 0.8%, while Givaudan, Holcim, Partners Group, Swiss Re, Roche Holding and Credit Suisse gained 0.4 to 0.6%.

UBS Group and Richemont declined 1.3% and 1.1%, respectively. Zurich Insurance Group ended 0.7% down.

In the Swiss Mid Price Index, Cembra Money Bank surged up nearly 6%. Dufry gained 2.7%, while Ems Chemie Holding and Temenos Group gained 1.5% and 1.2%, respectively. VAT Group, Swiss Prime Site, Straumann Holding, Julius Baer, Galenica Sante and Lindt & Spruengli gained 0.8 to 1.1%.

Zur Rose tumbled more than 9%. Schindler Holding and Schindler Ps declined 5.6% and 5.2%, respectively. Tecan Group and Adecco both ended lower by about 2.1%.

On coronavirus update, the Swiss government said today that almost all Covid restrictions would be lifted on February 17. Only the requirement to wear masks on public transport and at healthcare facilities would remain in force, and mandatory five-day isolation of people who have tested positive for Covid-19 would also remain in effect until the end of March, the government said.

Switzerland reported 21,032 new cases on February 16 for the previous 24-hour period.