Swiss Market Ends On Upbeat Note

RTTNews | hace 57
Swiss Market Ends On Upbeat Note

(RTTNews) - Swiss stocks closed on an upbeat note on Monday with investors reacting to an announcement from the White House that tariffs on imports of Chinese-made smartphones and some other electronics devices would not apply.

However, the rollback may end up being short-lived as President Donald Trump said these goods were simply being moved into a different tariff group or "bucket".

The benchmark SMI settled with a strong gain of 259.63 points or 2.31% at 11,499.46. The index touched a high of 11,552.98.

Logitech International climbed 6.6%. VAT Group, Partners Group, Roche Holding, Adecco and Novartis gained 3 to 3.5%.

Sandoz Group shares climbed nearly 3.5% after the company filed an antitrust lawsuit in the US against biotechnology company Amgen, accusing the latter of blocking competition from cost-effective biosimilar competitors for its Enbrel drug, including the Swiss pharmaceutical company's Erelzi, by using patent rights

UBS Group gained nearly 3%. SIG Group, Swiss Re and ABB climbed about 2.8%. Holcim, Kuehne + Nagel, Alcon and Sika closed higher by 2.4 to 2.6%.

Zurich Insurance, Straumann Holding, Swatch Group, Geberit, Swiss Life Holding, Lindt & Spruengli, Sonova, Schindler Ps, Lonza Group, Swisscom and Nestle also posted strong gains.

Clariant surged 3.75% on reports the specialty chemicals group is in talks with investment banks to explore strategies that could better align its valuation with business performance.

In economic news, Switzerland's producer and import prices continued to decline in March, though slightly, data from the Federal Statistical Office showed.

Producer and import prices dropped 0.1% year-on-year in March, the same pace as in the previous month. The price index has been falling since May 2023.

The producer price index showed an increase of 0.3%, while import prices dropped by 0.9%.

On a monthly basis, producer and import prices rose 0.1% in March after rising 0.3% in the prior month. The expected increase was 0.2%.

read more
U.S. Consumer Prices Inch Up 0.1% In May, Slightly Less Than Expected

U.S. Consumer Prices Inch Up 0.1% In May, Slightly Less Than Expected

A closely watched report released by the Labor Department on Wednesday showed a slight increase by consumer prices in the U.S. in the month of May. The Labor Department said its consumer price index inched up by 0.1 percent in May after rising by 0.2 percent in April. Economists had expected another 0.2 percent increase.
RTTNews | hace 40 minutos
Bay Street Seen Opening On Mixed Note

Bay Street Seen Opening On Mixed Note

It's likely to be a mixed start for Canadian shares on Wednesday with investors reacting to the crucial U.S. consumer price inflation data, and the developments on the trade front where U.S. and Chinese official reached a framework to implement the Geneva consensus following two days of discussions in London.
RTTNews | hace 1h 28min
CAC 40 Drifts Lower In Cautious Trade

CAC 40 Drifts Lower In Cautious Trade

The French market is down in negative territory Wednesday afternoon, with stocks moving in a narrow range as investors await further details on U.S.-China trade talks, and the crucial inflation data from the U.S. later in the day.
RTTNews | hace 2h 37min
Euro Rises Amid Risk-on Mood

Euro Rises Amid Risk-on Mood

The euro strengthened against other major currencies in the European session on Wednesday amid increased risk-on mood, as investors monitored the latest updates from Sino-U.S. talks and awaited crucial U.S. inflation data for direction. After two days of discussions in London, U.S. and Chinese officials have agreed on a limited framework to put their trade truce back on track.
RTTNews | hace 3h 43min
Euro Rises Against Majors

Euro Rises Against Majors

The euro strengthened against other major currencies in the European session on Wednesday.
RTTNews | hace 3h 52min
Sensex, Nifty End Modestly Higher; IT Stocks Lead Gains

Sensex, Nifty End Modestly Higher; IT Stocks Lead Gains

Indian shares eked out modest gains on Wednesday as markets assessed the outcome of high-level U.S.-China talks and awaited key U.S. inflation readings for additional clues on the Federal Reserve's rate trajectory.
RTTNews | hace 3h 53min