Swiss Market Ends On Strong Note After Inflation Data
2024-12-30
4183
(fxcue news) - 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.
Sign In via X
Google
Sign In via Google
This page link：http://www.fxcue.com/347107.html
Tips：This page came from Internet, which is not standing for FXCUE opinions of this website.
Statement：Contact us if the content violates the law or your rights
Tips：This page came from Internet, which is not standing for FXCUE opinions of this website.
Statement：Contact us if the content violates the law or your rights