Swiss Market Ends Modestly Higher
(RTTNews) - Despite suffering a setback that briefly pushed it down into the red, the Switzerland stock market recovered to close on a positive note on Monday with select stocks posting strong gains.
The benchmark SMI ended with a gain of 43.30 points or 0.39% at 11,171.54. The index touched a low of 11,104.00 and a high of 11,188.98 intraday.
Givaudan gained about 2%. Sika climbed 1.73%, while Nestle and Roche Holding both advanced nearly 1%.
Zurich Insurance Group drifted down 1.86% and Credit Suisse declined 1.13%. Swiss Life Holding ended nearly 1% down, while Logitech shed about 0.6%.
In the Mid Price index, Lindt & Spruengli gained nearly 3%. Ems Chemie Holding, Barry Callebaut, Bachem Holding, VAT Group and Kuehne & Nagel gained 1 to 1.75%.
Dufry, Adecco, Swatch Group, Baloise Holding and Julius Baer lost 1 to 1.7%.
Data from the Federal Statistical Office showed Switzerland's producer and import prices increased at a softer pace in July, rising by 6.3% year, after a 6.9% growth in June.
The producer price index rose 4.1% annually in July and import prices grew 10.8%.
On a monthly basis, producer and import prices declined 0.1% in July.
Prices for basic metals and semi-finished metal products were lower in July, the agency said. Domestic sale prices increased 7.2% yearly in July and rose 0.3% from a month ago.
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