BRUSSELS (dpa-AFX) - After opening on a somewhat cautious note Wednesday morning, the Switzerland stock market recovered and then kept climbing higher and higher as the day progressed to eventually settle on an upbeat note.
Positive global markets amid easing trade and inflation concerns rendered the mood in the Swiss market quite bullish.
Following their fine show in the midterm elections, Democrats are projected to win control of both the House and Senate.
President Donald Trump's apparent willingness to accept the results and work with Democrats to address political issues also helped ease concerns about increased regulatory scrutiny under a Democrat-controlled Congress.
Brent crude front-month futures plunged to about $95 a barrel, losing about 8%.
The benchmark SMI, which climbed to 15,044.44, a new all-time high, settled with a gain of 279.76 points or 1.8% at 15,022.85.
Logitech International jumped 8.75%. Straumann Holding climbed 6.3% and Alcon moved up 5.75%.
UBS Group, Partners Group, Richemont, Lindt & Spruengli, Julius Baer, Givaudan and Holcim gained 3%-6.3%.
Galderma Group and Sonova both rallied nearly 3%. Novartis, Zurich Insurance Group, Sika, Helvetia Baloise Holding, Nestle, Swiss Re, Swiss Life Holding, Amrize and Geberit gained 1.7%-2.2%.
Swisscom, Lonza Group, Schindler Ps, Roche, SGS and Kuehne + Nagel also posted strong gains.
VAT Group dropped nearly 5%. ABB drifted lower by 2.81% and Sandoz Group ended down by 0.77%.
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