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Despite a somewhat sluggish start, Swiss stocks moved higher on Wednesday as optimism about growth and corporate earnings aided sentiment and triggered some buying at several counters.<\/p>\n
However, the gains were just modest as concerns about rising inflation and likelihood of the U.S. Federal Reserve hiking rates earlier than expected limited the market’s upside.<\/p>\n
The benchmark SMI ended with a gain of 33.88 points or 0.27% at 12,401.40, closing higher for a third straight session. The index moved between 12,361.13 and 12,427.64.<\/p>\n
Novartis gained nearly 1%. Roche Holding climbed 0.8%, Givaudan gained 0.75% and Lonza Group moved up 0.52%. Holcim, Geberit and Nestle gained 0.4 to 0.5%.<\/p>\n
Partners Group declined 1.7%, Richemont shed 1.4% and Alcon shed about 1.1%. Logitech and UBS Group lost 0.5% and 0.36%, respectively.<\/p>\n
In the Mid Price Index, Barry Callebaut gained 2.6% and AMS surged up 2.1%. Schindler Holding and Schindler Ps gained 1.5% and 1.2%, respectively.<\/p>\n
Kuehne & Nagel declined 3.4%, Sonova shed 2.8%, and Georg Fischer and SIG Combibloc both closed lower by 2.3%. Straumann Holding, Tecan Group, Lindt & Spruengli and VAT Group lost 1.25 to 1.4%.<\/p>\n
Amid stagnation in vaccination rate in the last few weeks, coronavirus<\/span> cases are on the rise in Switzerland. According to the Federal Office of Public Health, the country reported 4,123 new cases in the last 24 hours, about 60% over the seven-day average of 2,701 cases. <\/p>\n<\/p>\n<\/div>\n