It was a record-breaking day on the Swiss stock market on Wednesday. The benchmark SMI index climbed above the 14,000-point mark during a rally and, in the early afternoon, broke the all-time high set in February. In a market with little news, it was the defensive heavyweights that gave the local stock market a boost. Investors continued to exercise caution with regard to tech stocks, which had recently come under pressure. The SMI rose by a significant 1.49% to 14,117.75 points, with the new all-time high now standing at 14,142.38 points. “The SMI’s surge to new highs is encouraging, but is primarily driven by the strong blue-chips,” said one trader, summarising the situation. A glance at other European stock markets also illustrates this. The FTSE 100 in London gained just 0.3%, whilst the DAX in Frankfurt actually fell by 0.6%. + Six charts show challenges facing Swiss pharmaceutical industry The heavyweights Roche (+2.1%), Novartis (+0.8%) and, above all, Nestlé (+3.3%) …