Swiss Market Hits New All-time High, Ends Modestly Higher

(RTTNews) - Despite opening lower, the Switzerland market climbed higher on Tuesday amid stock specific activity and eventually ended the session on a firm note.

The benchmark SMI, which drifted down to 12,482.35 in early trades, climbed to a new all-time high at 12,574.48 before settling for the day at 12,557.34 with a modest gain of 40.22 points or 0.32%.

ABB and Alcon gained 1.27% and 1.24%, respectively. SGS, Lonza Group, UBS Group, Richemont, Holcim and Swiss Life Holding gained 0.5 to 0.85%.

Geberit declined more than 2%.Credit Suisse and Logitech ended lower by 0.64% and 0.35%, respectively.

Among the stocks in the Swiss Mid Price Index, Swatch Group rallied 2.15%. Tecan Group gained nearly 1%, while Vifor Pharma, Vat Group and OC Oerlikon Corp ended higher by 0.7 - 0.8%.

Straumann Holding, Zur Rose, Kuehne & Nagel and Adecco shed 1.7 to 2%. Sonova, Lindt & Spruengli Part, Temenos Group and Lindt & Spruenglin N ended lower by 0.1% to 1.2%.

Meanwhile, in coronavirus updates, the Federal Office of Public Health said almost 4,300 new infections were reported on Tuesday. The seven-day weekly average has gone up by 43%.