Swiss Market Ends On Firm Note

(RTTNews) - After a flat start, Swiss stocks moved higher and stayed firm right till the end of day's session on Wednesday, tracking positive global cues and on hopes global central banks will start cutting interest rates in the second quarter.

The benchmark SMI, which opened at 11,463.01, ended with a gain of 82.73 points or 0.72% at 11,546.47, the day's high.

Logitech International rallied about 3.75%. Givaudan, Partners Group and Geberit gained 1.4 to 1.65%. Nestle, Sika, Kuehne & Nagel, Alcon, UBS Group, Zurich Insurance Group, ABB and Swiss Re advanced 0.75 to 1%.

Lonza Group and Holcim edged down marginally, and Richemont settled flat.

In the Mid Price Index, Belimo Holding gained about 3.5%. VAT Group climbed 3.2%, while Meyer Burger Tech and Avolta gained about 3% and 2.8%, respectively.

Lindt & Spruengli gained about 2%. Straumann Holding, Georg Fischer, Sandoz, ams OSRAM AG and Tecan Group ended higher by 1.5 to 1.85%. Julius Baer gained nearly 1%.

Flughafen Zurich ended down 1.74%. Galenica Sante and Swatch Group lost 1% and 0.9%, respectively.