The Switzerland stock market ended on a firm note on Thursday after data from the Labor Department showed U.S. consumer price inflation rose less than expected in the month of July.
The tamer than expected inflation data, and a report showing an increase in weekly jobless claims in the U.S. have raised hopes the Federal Reserve will leave interest rates unchanged at its September meeting.
The benchmark SMI ended with a gain of 68.25 points or 0.62% at 11,149.79 after moving between 11,106.90 and 11,189.10.
Partners Group and Richemont gained 2.61% and 2.52%, respectively. Givaudan and Kuehne & Nagel gained 2.1% and 2%, respectively.
Lonza Group surged 1.86%. Sonova gained about 1.6%, while Logitech and Swiss Life Holding both ended higher by 1.39%. Sika advanced about 1.1%.
Zurich Insurance gained about 0.6% after delivering strong results in the first six months of the year.
ABB declined 2.2%. Novartis edged down marginally.
In the Mid Price Index, Straumann Holding, Bachem Holding, VAT Group and Dufry gained 2 to 2.6%.
Julius Baer, Temenos Group, Baloise Holding, Belimo Holding, AMS, Helvetia and Swiss Prime Site also ended notably higher.
Meyer Burger Tech drifted down 1.22%. Galenica Sante declined 0.51%, while Lindt & Spruengli and Flughafen Zurich edged down marginally.
Market Analysis
Swiss Market Ends On Firm Note
2023-08-10 17:39:35
