On Wednesday, the Swiss stock market experienced a modest uptick, although it faced challenges in maintaining a clear direction after retreating from earlier elevated levels. Market sentiment was cautious, influenced by concerns over Middle Eastern tensions and the absence of significant positive catalysts. Investors remained focused on upcoming inflation data, set to be released on Thursday, for further guidance.
The benchmark SMI, which initially climbed to 12,159.78 following a slightly positive opening, dipped to 12,055.56 by late afternoon. However, it managed to recover and close at 12,122.09, marking an increase of 35.43 points or 0.29%.
Key gainers included Julius Baer, Richemont, and Swatch Group, each rising between 2% and 2.1%. Sonova saw an uplift of 1.83%, while UBS Group and SIG Group closed higher by 1.39% and 1.18%, respectively.
ABB saw a gain of about 0.75% after signing a memorandum of understanding with the AI provider Carbon Re to work collaboratively on reducing carbon emissions in the cement industry.
Other notable performers were Logitech International, SGS, VAT Group, ABB, Lindt & Spruengli, Novartis, and Straumann Holding, all of which advanced between 0.4% and 1%.
In contrast, Sandoz Group dropped roughly 3.2%. Stocks such as Givaudan, Swiss Re, Swisscom, Lonza Group, Swiss Life Holding, Adecco, Kuehne + Nagel, and Holcim experienced declines ranging from 0.5% to 0.9%.
