Swiss Markets Ends Slightly Weak
2025-01-23
3586
(fxcue news) - The Swiss market edged down marginally on Friday with stocks paring gains in late afternoon trade as investors chose to take some profits following a long winning streak. Data showing a stronger than expected jump in the nation's retail sales aided sentiment.
The benchmark SMI, which rose to 12,708.45 after an hour past noon, gave up gains as the day progressed and eventually settled at 12,597.09, recording a marginal loss of 7.45 points or 0.06%.
Straumann Holding, Nestle, Lonza Group and Adecco lost 1.2 to 1.75%. Schindler Ps, Kuehne + Nagel, Lindt & Spruengli, Zurich Insurance Group, Swiss Re, Givaudan and SGS ended moderately lower.
Swatch Group climbed 1.53%. Logitech International gained 1.35% and Partners Group closed 1.2% up. Sandoz Group gained 0.67%.
Data from the Federal Statistical Office showed Swiss retail sales growth quickened in December to the highest level in four months amid faster rises in demand for food and non-food products.
Retail sales rose 2.6% on a yearly basis in December after a 1.4% increase in November. Further, this was the sixth successive growth in a row. Meanwhile, economists had expected only a 0.6% rise.
Month-on-month, retail sales grew 0.6% in December after remaining flat in the previous month.
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