Swiss Market Ends On Strong Note

(RTTNews) - The Switzerland stock market ended on a bright note on Tuesday, in line with markets across Europe, as investors shrugged off concerns about rising coronavirus cases and focused on Fed Chair Jerome Powell's testimony at the Senate, and looked ahead to key inflation data.

The benchmark SMI ended with a gain of 112.36 points or 0.89% at 12,709.71. The index climbed to a high of 12,772.63.

Holcim gained 4% after the company said it has inked a deal to acquire French manufacturer of specialty building solutions PRB Group.

Construction chemicals maker Sika AG gained nearly 3% after reporting a 17.3% rise in 2021 sales.

Logitech ended nearly 5% up. Richemont, Partners Group, ABB, Roche Holding and Zurich Insurance Group ended higher by 1 to 1.7%. Lonza Group, Givaudan and SGS ended nearly 1% up.

Credit Suisse declined 0.77%. Swiss Re shed about 0.4%, while Swisscom and UBS Group ended marginally up.

Among the stocks in the Swiss Mid Price Index, AMS, Dufry, Temenos Group, Schindler Holding, Straumann Holding, Georg Fischer, Adecco, Tecan Group and Ems Chemie Holding gained 2 to 3%.

Swatch Group declined 2.3% and Cembra Money Bank ended 1.77% down.