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.
U.S. Wholesale Inventories Dip 0.2% In November, In Line With Estimates
U.S. Jobless Claims Unexpectedly Slip To Nearly Eleven-Month Low
U.S. Private Sector Job Growth Slows More Than Expected In December
U.S. Weekly Jobless Claims Unexpectedly Dip To 201,000
Amazon's AWS To Invest At Least $11 Bln In Georgia For Cloud, AI Infrastructure
U.S. Private Sector Employment Climbs Less Than Expected In December
Eurozone Economic Sentiment Deteriorates Sharply
