Advertisement
Swiss Market Ends On Firm Note
(RTTNews) - The Switzerland stock market ended on a firm note on Wednesday, in line with markets across Europe.
Data showing a moderation in eurozone inflation, and expectations about China relaxing its Covid-related restrictions sometime soon helped underpin sentiment.
The benchmark SMI ended with a gain of 49.96 points or 0.45% at 11,127.77, the day's low. The index touched a high of 11,204.88 in the session.
Richemont rallied nearly 3.5%. Partners Group and Sika both gained about 1.8%. Givaudan surged 1.3%, while Nestle and Lonza Group gained 0.97% and 0.8%, respectively.
Credit Suisse drifted down 2.76%. UBS Group ended 0.72% down, while Roche Holding ended nearly 0.5% down.
In the Mid Price Index, Bachem Holding gained about 3.5% and SIG Combibloc climbed 3.2%. Tecan Group advanced 2.35%.
Straumann Holding, Swatch Group, Lindt & Spruengli, Kuehne & Nagel and AMS gained 1.4 to 2%.
Clariant, Georg Fischer, Adecco, Schindler Ps, Schindler Holding and Zur Rose lost 1 to 2.5%.
In economic news, a leading indicator for Switzerland's economy dropped for the fifth month in a row in November, defying expectations for an improvement, to signal subdued economic activity in the coming months, results of a survey showed.
The economic barometer dropped to 89.5 from 90.9 in October, the KOF Swiss Economic Institute said. Economists had expected reading to rise to 91.3.
"The negative development of the barometer is primarily driven by indicator bundles for the sector other services," the KOF said.
Pound Advances After U.K. Inflation Data
Canadian Market Turns Weak, Set To Snap 10-session Winning Streak
Swiss Markets Ends Modestly Lower
European Stocks Close On Mixed Note Amid Geopolitical, Trade Uncertainty
Bay Street Seen Opening On Mixed Note
UK Inflation Strongest Since Early 2024 On Household Bills, Employer Tax
FTSE 100 Down Marginally As Investors Focus On Inflation Data, Earnings
