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The Switzerland stock market, which briefly slipped into negative territory early on in the session on Wednesday, ended the day modestly higher amid optimism about economic recovery.<\/p>\n
The benchmark SMI ended up by 33.84 points or 0.3% at 11,156.21, after moving between 11,121.87 and 11,183.33.<\/p>\n
Richemont shares gained 3.3%. UBS Group gained 1.6%, Lonza Group ended 1.3% up and Swatch Group advanced 1.1%. Roche Holding and LafargeHolcim gained 0.95% and 0.85%, respectively. ABB closed with a modest gain of 0.55%.<\/p>\n
Credit Suisse recovered after early weakness and ended marginally up. The Swiss banking giant has flagged around $2.3 billion in problematic loans in its Greensill Capital funds.<\/p>\n
Partners Group ended 1.5% down, while Geberit, SGS, Sika and Swiss Re declined 0.7 to 0.9%.<\/p>\n
In the mid price index, BB Biotech gained 3.15%, Clariant ended nearly 3% up and Dufty rallied 2.2%, while Temenos Group and Vifor Pharma both ended higher by about 1.5%.<\/p>\n
Adecco, Helvetia and SIG Combibloc ended lower by 1.3 to 1.8%.<\/p>\n
The Swiss government today announced further easing of its COVID-19 restrictions, allowing restaurants to reopen outdoor terraces from next week and sports events to take place with audiences.<\/p>\n
The government has taken this decision despite the infection situation remaining fragile and had actually worsened in recent days.<\/p>\n
“Despite rising case numbers we can carefully open up as we have another situation in terms of testing and vaccinations,” Health Minister Alain Berset told reporters, according to Reuters.<\/p>\n
“Firstly, thanks to the weather, we can go outside more. Secondly a large part of the most vulnerable people are already vaccinated. We think taking the risk is justifiable.” <\/p>\n<\/p>\n
Market Analysis<\/p>\n<\/div>\n