Swiss Market Ends On Strong Note After Inflation Data
(RTTNews) - The Switzerland market closed on a strong note on Tuesday with stocks shrugging off early weakness and gaining in strength as the day progressed. Data showing a slowdown in consumer price inflation aided sentiment.
The benchmark SMI ended with a gain of 139.64 points or 1.19% at 11,830.77.
Logitech International and Roche Holdings both closed stronger by 2.7%. Lonza Group climbed about 2.3%.
Swiss Re, Novartis, Straumann Holding, Swatch Group, Sonova, Nestle, Richemont and Julius Baer gained 1 to 1.7%. Alcon, Swisscom, Lindt & Spruengli, VAT Group, Zurich Insurance Group and Partners Group also closed on firm note.
Schindler Ps closed down 1.19%. Holcim, Kuehne + Nagel, Sika, Geberit, Adecco and ABB also ended weak.
Data from the Federal Statistical Office said Switzerland's consumer price inflation slowed marginally at the end of the year, rising 0.6% on a yearly basis in December, following a 0.7% rise in the previous month.
Prices for housing and energy grew 3.4% annually, and those for recreation and culture climbed by 1.1%.
On the other hand, costs for food and non-alcoholic beverages decreased 0.9% from last year, and transport charges were 1.9% cheaper.
The average annual inflation amounted to 1.1% in 2024, the agency said.
On a monthly basis, consumer prices dropped at a stable rate of 0.1% in December, in line with expectations. This was the fourth successive fall in a row.
Sensex, Nifty Marginally Higher In Early Trade
Australian Market Extends Early Losses In Mid-market
Asian Markets Trade Mixed
Sensex, Nifty Set To Open Lower Amid Rising Global Bond Yields
Win Streak May End For Thai Stock Market
Japanese Market Modestly Lower
Lower Open Called For Hong Kong Stock Market
