BRUSSELS (dpa-AFX) - The Swiss stock market ended notably higher on Wednesday amid hopes the global economy will show signs of growth soon as several central banks across the globe are expected to reducer interest rates.
The start was a bit weak, but stocks swiftly got into positive territory and stayed firm till the end of the session despite paring some gains in late afternoon trades.
The benchmark SMI ended up 60.91 points, or 0.63%, at 9,658.62. The index scaled a low of 9,579.43 and a high of 9,672.82 in the session.
Swatch Group shares ended nearly 2% up. Givaudan and Geberit both ended higher by about 1.6%. Richemont gained 1.43%, SGS advanced 1.3% and Nestle ended 1.07% up. Swisscom, Adecco and Credit Suisse closed modestly higher.
Dufry AG shares gained nearly 2% after the company acquired Regstaer Vnukovo in Russia. The transaction is expected to be completed by the third quarter of this fiscal.
Novartis announced that first-line treatment with Tafinlar and Mekinist offers long-term survival benefits to patients with certain melanoma. The pharma stock ended with a modest gain of about 0.4%.
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