(RTTNews) - The Switzerland market ended on a firm note on Wednesday, extending recent gains, amid continued optimism about interest rate cuts by several central banks, including the Swiss National Bank. Investors continued to react positively to some upbeat earnings updates as well.
The benchmark SMI ended with a gain of 89.24 points or 0.78% at 11,602.21, the day's high.
Sandoz Group rallied about 4.25% after Deutsche Bank raised the stock's price target to 28 francs, up from 26 francs.
Nestle gained 2.21%, Geberit advanced nearly 2% and ABB ended 1.84% up. ABB has agreed to create a new joint venture with cable management systems supplier Niedax Group to meet demand for cable tray products and services in North America.
SIG Group climbed 1.44%, while Lonza Group, Kuehne & Nagel, Swiss Re, Schindler Ps, Straumann Holding, Zurich Insurance Group, Novartis and Sika gained 0.7 to 1.2%. Holcim and Swatch Group also ended notably higher.
Lindt & Spruengli drifted down 2.35%. UBS Group ended lower by 1.7% on profit taking after previous session's strong gains. Julius Baer closed 1.02% down.
