The Switzerland stock market ended on a strong note on Thursday after holding firm right through the day’s session on positive global cues.
The benchmark SMI ended with a gain of 110.43 points or 0.99% at 11,238.20, after scaling a low of 11,207.56 and a high of 11,283.87 in the session.
Logitech, Lonza Group and Sika gained 3.6 to 4%, while Geberit ended higher by 3%.
Sonova, Partners Group, Alcon, Swiss Life Holding and Swisscom surged 1.7 to 2.5%. Nestle gained 1.23%, while UBS Group and Swiss Re both ended nearly 1% up.
Credit Suisse drifted down 4.36%, while Richemont ended lower by 0.85%.
In the Mid Price Index, Zur Rose soared nearly 15%. AMS gained 2.8%, while Temenos Group, Julius Baer, VAT Group, Ems Chemie Holding, Tecan Group, Belimo HOlding, PSP Swiss Property and SGS gained 1.9 to 2.5%.
On the economic front, Switzerland’s consumer price inflation remained unchanged in November, data from the Federal Statistical Office showed.
Consumer prices rose 3% year-on-year in November, the same as seen in October. This was in line with economists’ expectations.
On a monthly basis, consumer prices remained stable in November, after a 0.1% rise in the previous month. Economists expected prices to remain unchanged.
Another data from the statistical office showed Switzerland’s retail sales declined in October, falling by a working-day adjusted 2.5% year-on-year in the month. On a monthly basis, retail sales fell 2.7% in October.
Market Analysis
Swiss Market Ends On Strong Note
2022-12-01 18:12:07
