Swiss Market Ends On Firm Note Ahead Of Inflation Data

(RTTNews) - The Switzerland stock market ended on a firm note on Monday thanks to sustained buying at several frontline counters amid optimism about earnings and hopes the central banks will start reducing interest rates after the first quarter of the current year.

Investors awaited Swiss consumer price inflation data for January, due on Tuesday. in December, the annual inflation rate in Switzerland rose to 1.7% in December 2023 from 1.4% in the previous month.

The benchmark SMI, which moved in a tight range between 11,117.40 and 11,184.14, ended the session with a gain of 87.72 points or 0.79% at 11,179.30.

Geberit rallied 3.31% and Sika climbed 3.06%. Holcim surged nearly 2%, while Nestle, Partners Group, Swiss Life Holding and Roche Holding gained 1.1 to 1.5%.

UBS Group gained nearly 1%. ABB, Richemont, Swiss RE, Zurich Insurance Group and Lonza Group posted moderate gains.

Kuehne & Nagel and Novartis ended lower by 0.81% and 0.71%, respectively. Swisscom edged down marginally.

Among the stocks in the Mid Price Index, ams OSRAM Ag rallied 4.64%. Belimo Holding gained 2.7%. Swatch Group, Avolta, Adecco, SIG Combibloc and Baloise Holding ended higher by 2.1 to 2.5%.

Clariant, Tecan Group, Julius Baer, Helvetia, Georg Fischer and Straumann Holding also ended with impressive gains.

Ems Chemie Holding ended down 1.26%. Temenos Group and VAT Group closed lower by 0.74% and 0.7%, respectively. Meyer Burger Tech, Flughafen Zurichand Sandoz ended marginally down.