Swiss Market Ends On Firm Note

(RTTNews) - The Switzerland market ended on a firm note on Tuesday, in line with markets across Europe, after data showing a slowdown in the annual rate of core consumer price growth in the U.S. raised optimism about the Federal Reserve cutting interest rates in the foreseeable future.

The benchmark SMI, which opened on a firm note but pared gains around mid morning and stayed subdued around mid afternoon, recovered well to close with a moderate gain of 76.86 points or 0.66% at 11,762.05.

Partners Group climbed about 2.7%. Logitech International, UBS Group, Holcim and Geberit gained 2 to 2.25%.

Sika, Sonova, ABB, Roche Holding, Swiss Life Holding and Kuehne & Nagel ended higher by 1 to 1.7%. Givaudan and Richemont both ended nearly 1% up.

Novartis ended down 1.36%, and Swisscom drifted down 0.51%.

Among the stocks in the Mid Price Index, BKW soared nearly 10%. Ems Chemie Holding, Belimo Holding and Flughafen Zurich gained 2.6 to 2.75%.

VAT Group rallied about 2%. Helvetia, ams OSRAM Ag, Barry Callebaut, Adecco, Schindler Ps, Tecan Group, Georg Fischer, Schindler Holding and Julius Baer advanced 1 to 2%.

Meyer Burger Tech and Galenica Sante ended lower by 3% and 2.74%, respectively. Lindt & Spruengli settled lower by 1.35%.