Swiss Stock Market Ticks Higher On Wednesday
2024-11-20
2467
(fxcue news) - The Swiss stock market spent most of Wednesday's trade under water before a late rally nudged it up into positive territory going into the close.
The higher finish allowed the SMI to snap the two-day losing streak in which it had given up more than 80 points or 0.7 percent.
The performance was mostly in line with other European markets, which hugged the line and finished mixed as investors fretted about potential inflationary pressures arising from U.S. President-elect Donald Trump's proposed tariff policies.
Investor sentiment was also dented as the risk premium investors demand to hold French debt rose to its highest level since 2012 amid fiscal and political turbulence and angst over the fate of the new government.
For the day, the SMI rose 11.13 points or 0.10 percent to finish at 11,644.01 after trading between 11,583.01 and 11,653.26.
Among the individual components, Lonza Group tumbled 2.64 percent, while Adecco Group jumped 1.82 percent, ABB retreated 1.05 percent, Novartis rallied 0.89 percent, Sika sank 0.87 percent, Nestle improved 0.69 percent, Swisscom added 0.50 percent, UBS slumped 0.32 percent, Swiss Life slid 0.22 percent, Zurich Insurance eased 0.07 percent and Swatch Group was unchanged.
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