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Swiss Market Ends Moderately Higher
(RTTNews) - The Switzerland market closed on a firm note on Wednesday with investors picking up stocks amid hopes the U.S. will reduce tariffs on Canada and Mexico. German leaders' decision to increase defense and infrastructure spending contributed as well to the improved sentiment in the market.
The benchmark SMI, which climbed to 13,161.90 intraday, closed up 106.01 points or 0.82% at 13,112.75.
Adecco rallied nearly 8.5%. Sika surged nearly 8% and VAT Group gained 7.1%. Geberit climbed 6.8% and Holcim gained 6%.
ABB, Julius Baer, UBS Group, Logitech International and Partners Group advanced 2.3 to 4%.
Swiss Re, Straumann Holding, Alcon, Lonza Group, Sonova, Kuehne + Nagel, Swiss Life Holding and Novartis gained 0.6 to 1.3%.
Lindt & Spruengli and Givaudan ended down 3.8% and 3.3%, respectively.
Nestle declined 1.83% and Swisscom ended 0.58% down. Roche Holding and Swatch Group closed marginally down.
Data from Swiss Federal Statistical Office said the annual inflation rate in Switzerland eased slightly to 0.3% in February 2025, down from 0.4% in January. This marks the lowest level since April 2021.
On a monthly basis, the CPI rose by 0.6% in February, the first increase in nine months and the fastest pace since February 2024.
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