BRUSSELS (dpa-AFX) - The Switzerland stock market ended on a firm note for a second straight session, as the mood remained positive on Wednesday as markets across Europe gained in strength riding on some upbeat earnings.
The benchmark SMI ended with a gain of 75.90 points or 0.64% at 12,021.58, after moving in a tight range between 11,983.23 and 12,048.55. The index gained about 0.7% on Tuesday.
Swiss Life Holding climbed 3.2%. UBS Group moved up nearly 3%, extending gains from the previous session, with the stock continuing to find support after the lender reported stronger than expected results. Swiss Re surged up 2.8%, Richemont gained 2.53% and Credit Suisse ended with a gain of 2.15%.
Partners Group, Holcim, Zurich Insurance Group and ABB gained 1.6 to 2%, and Swatch Group moved up 1.1%.
Novartis declined 0.7%, Nestle ended lower by 0.25%, and Givaudan edged down marginally.
In the Mid Price index, AMS gained 3.5%, while Dufty, Logitech, Helvetia, OC Oerlikon Corp, Julius Baer and Adecco gained 2 to 3%. Flughafen Zurich, Baloise Holding, Straumann Holding, Swiss Prime Site and Clariant also ended sharply higher.
In Covid news, Switzerland reported 770 new cases in the last 24 hours, compared to 7-day average of 577 cases.
According the federal health office, the growth in virus cases is due to the highly infectious Delta variant affecting unvaccinated people, mainly young people aged 10-29. The vice-president of the National Covid-19 Science Task Force, Samia Hurst said, 'We could experience another wave in Switzerland that is higher than last autumn.'
However, hospitalisations are at a relatively low level, according to officials.
Copyright RTT News/dpa-AFX
© 2021 AFX News
