Swiss Market Ends On Firm Note On Strong Economic Data

RTTNews | 23 dni temu
Swiss Market Ends On Firm Note On Strong Economic Data

(RTTNews) - The Switzerland market closed on a strong note on Friday, in line with markets across Europe, as upbeat results from top U.S. firms Intel and Amazon, and data showing an unexpected drop in Swiss consumer price inflation helped underpin sentiment.

The benchmark SMI closed up 174.28 points or 1.48% at 11,967.20. The index scaled a low of 11,842.98 and a high of 11,991.87 intraday.

Julius Baer and Lonza Group both gained about 3.1%. Logitech International and UBS Group climbed 2.52% and 2.11%, respectively.

Straumann Holding, Roche Holding, Swatch Group, Novartis, Sonova and Holcim gained 1.6 to 2%. Nestle, Lindt & Spruengli, Swiss Life Holding, Swisscom, VAT Group, Swiss Re, ABB, SGS and Sika advanced 1 to 1.5%.

Richemont, Zurich Insurance, Givaudan, Schindler Ps, Kuehne + Nagel and Alcon also posted solid gains.

Geberit ended down 1%, and SIG Group drifted down 0.32%.

Data from the Federal Statistical Office said Switzerland's consumer price inflation eased unexpectedly in October to the lowest level in more than three years.

The consumer price index rose 0.6% on a yearly basis in October, slower than the 0.8% rise in September. Economists had expected the inflation to remain stable at 0.8%.

On a monthly basis, consumer prices edged down 0.1% in October after falling 0.3% in the previous month. Prices were expected to remain flat.

Another report from the same office said retail sales in Switzerland rose 2.2% year-on-year in September 2024, below the expected 2.5% increase, slowing from a downwardly revised 2.7% growth in August. On a monthly basis, retail sales decreased 0.5%, following a downwardly revised 0.1% rise in August.

Switzerland's procure.ch Manufacturing PMI held steady at 49.9 in October 2024, unchanged from September and hovering just below the growth threshold of 50, slightly above forecasts of 49.8, according to procure.ch & UBS.

read more
European Economic News Preview: German Ifo Business Confidence Data Due

European Economic News Preview: German Ifo Business Confidence Data Due

Business confidence survey data from Germany is the only major economic report due on Monday, headlining a light day for the European economic news. At 2.00 am ET, manufacturing sentiment and capacity utilization figures are due from Turkey. At 2.30 am ET, Switzerland's Federal Statistical Office releases employment data for the third quarter.
RTTNews | 6g 0 minut temu
European Shares Set To Open On Buoyant Note

European Shares Set To Open On Buoyant Note

European stocks look set to open notably higher on Monday after U.S. President-elect Donald Trump picked hedge fund billionaire Scott Bessent as his Treasury Secretary, raising optimism he would recommend "tariffs be layered in gradually".
RTTNews | 6g 45 minut temu
Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Monday, following the broadly positive cues from Wall Street on Friday, boosted by strong gains in markets in Japan, Indonesia and South Korea as traders remain optimistic about a 25-basis point rate cut by the US Fed in December after data showing consumer sentiment in the U.S. improved less than expected in November.
RTTNews | 8g 51 minut temu
Sensex, Nifty Set For Gap-up Opening

Sensex, Nifty Set For Gap-up Opening

Indian shares may see a gap-up opening on Monday after BJP-led alliance scored significant victory in the Maharashtra state assembly elections, raising expectations for increased government spending to boost domestic demand.
RTTNews | 9g 48 minut temu
Japanese Market Sharply Higher

Japanese Market Sharply Higher

The Japanese stock market is trading sharply higher on Monday, adding to the gains in the previous session. The benchmark S&P/ASX 200 is moving above the 38,900 level, following the broadly positive cues from Wall Street on Friday, with gains across most sectors led by index heavyweights, financial and technology stocks after recent data showed headline inflation slowing to a nine-month low.
RTTNews | 9g 58 minut temu
Thai Stock Market Expected To Open In The Green On Monday

Thai Stock Market Expected To Open In The Green On Monday

The Thai stock market rebounded on Friday, one day after snapping the three-day winning streak in which it had gathered more than 20 points or 1.5 percent. The Stock Exchange of Thailand now sits just above the 1,445-point plateau and it's tipped to open to the upside again on Monday.
RTTNews | 10g 19 minut temu
Indonesia Stock Market May Add To Its Winnings On Monday

Indonesia Stock Market May Add To Its Winnings On Monday

The Indonesia stock market on Friday ended the two-day losing streak in which it had slumped almost 55 points or 0.8 percent along the way. The Jakarta Composite Index now rests just beneath the 7,200-point plateau and it's expected to open in the green again on Monday.
RTTNews | 10g 49 minut temu