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The Switzerland stock market closed on a firm note on Tuesday, buoyed by strong earnings updates from lender UBS and drugmaker Novartis.<\/p>\n
The positive trend across Europe also helped lift sentiment.<\/p>\n
The benchmark SMI, which stayed firm right through the day’s session, ended with a gain of 83.35 points or 0.69% at 12,146.52, the session’s high.<\/p>\n
UBS Group shares gained 1.25%. The lender posted its highest quarterly net profit since 2015 and announced plans for a digital investing tool that it hopes will expand its wealth-management business<\/span> beyond the very rich. The bank posted a profit of $2.3 billion in the quarter.<\/p>\n Novartis climbed 1.1% after reporting third-quarter earnings of $2.76 billion. The bank said it earned net income of $1.22 per share. Ajusted earnings came in at $1.71 per share, the company said.<\/p>\n Swiss Re climbed 2.7%. Swiss Life Holding gained about 2.05%, while Richemont and Zurich Insurance Group gained 1.78% and 1.53%, respectively. Credit Suisse, Alcon, Swisscom and ABB also closed notably higher.<\/p>\n Logitech shares declined 4.27% after the computer peripherals maker warned of supply-chain disruptions.<\/p>\n In the Swiss Mid Price Index, Temenos Group rallied 4.6%, Dufry gained 3.05%, AMS climbed 2.75% and Swatch Group advanced 2.25%.<\/p>\n VAT Group, Julius Baer, Flughafen Zurich, Lindt & Spruengli and Baloise Holding gained 1.4 to 2%. Adecco, Helvetia, Lindt & Spruengli N and Straumann Holding also closed with strong gains.<\/p>\n Zur Rose plunged 8.8%. SIG Combibloc shed about 4.7%, while Kuehne & Nagel declined 1.4%. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n