Swiss Market Ends Slightly Up After Choppy Session
2024-11-24
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(fxcue news) - The Switzerland market ended slightly up on Tuesday after a choppy rise as investors largely made cautious moves, reacting to the nation's inflation report, and looking ahead to some key economic data from the U.S. later in the week.
The benchmark SMI closed up 5.08 points or 0.04% at 11,834.32. The index, which advanced to 11,875.31 around mid morning, dropped to a low of 11,799.46 later on in the session.
Geberit climbed 2.17%. Sika, Richemont, VAT Group, Schindler Ps and Holcim closed higher by 1 to 1.6%.
Partners Group shares gained about 1.35% after the company agreed to purchase Switzerland-based residential sector-focused real estate investment platform Empira Group as part of the private equity firm's strategy to further expand its real estate portfolio.
UBS Group, Julius Baer, ABB, SIG Group and Swisscom posted modest gains.
Sonova closed down 1.03%. SGS, Swatch Group, Lonza Group, Roche Holding, Adecco and Lindt & Spruengli ended lower by 0.5 to 0.9%.
Data from the Federal Statistical Office showed that Switzerland's consumer price inflation rose marginally in November from a more than three-year low in October.
The data said the consumer price index rose 0.7% on a yearly basis in November, following a 0.6% rise in the previous month, which was the lowest inflation since June 2021. The expected inflation rate was 0.8%.
On a monthly basis, consumer prices dropped at a stable rate of 0.1% in November, as expected. This was the third successive fall in a row.
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