The Switzerland stock market opened on a firm note on Tuesday and gained in strength as the session progressed thanks to positive news about U.S. stimulus and the overall bullish sentiment in Europe.
The benchmark SMI ended with a gain of 97.85 points or 0.95% at 10,403.37, slightly off the session’s high of 10,413.96.
LafargeHolcim surged up nearly 2.5%. Sika gained 2.3%, while Alcon and Lonza Group both ended stronger by 1.7%.
Nestle, Swatch Group, Zurich Insurance Group, Swiss Re, Richemont, Credit Suisse and Geberit gained 1 to 1.5%. Novartis and Roche Holding ended with modest gains.
In the Swiss Mid Price Index, Adecco climbed 4.8% and Temenos Group gained about 4.1%. AMS, Sonova, Flughafen Zurich, BB Biotech, Vifor Pharma, Helvetia, Logitech and Straumann Holding gained 1.5 to 3%.
In coronavirus news, data from Swiss health authorities Tuesday morning showed infections due to the virus rose by 4,275 cases in a day.
On the stimulus front, the United States passed a long-awaited stimulus package that would send billions of dollars to American households and businesses grappling with the economic and health toll of the coronavirus pandemic. President Donald trump is soon expected to sign it into law.
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