Swiss Market Closes On Firm Note
(RTTNews) - The Switzerland market closed on a firm note on Thursday, after trading positive right through the day's trading session, amid rising expectations about more monetary easing by the Federal Reserve and easing concerns about the government shutdown in the U.S.
The benchmark SMI ended with a gain of 67.05 points or 0.54% at 12,427.18, after hitting a high of 12,466.28.
VAT Group soared nearly 10% as analysts raised the stock's ratings. Zacks upgraded VAT Group from "strong sell" to "hold" and Goldman Sachs moved it from "hold" to "buy."
Logitech International rallied about 3.4%. Sandoz Group, Galderma Group and Straumann Holding gained 2.71%, 2.38% and 2.26%, respectively.
Richemont, ABB, Lonza Group, Kuehne + Nagel, Sonova, Swisscom and Nestle climbed 1 to 1.6%. Alcon, SGS, Lindt & Spruengli, Roche Holding and Givaudan also closed with notable gains.
Swatch Group closed down by 1.35%. UBS Group, Holcim and Swiss Life Holding ended modestly lower.
Data from the Federal Statistical Office showed Switzerland's consumer price inflation held steady for the second straight month in September.
The consumer price index rose 0.2% on a yearly basis in September, the same as in the previous two months. Meanwhile, economists had expected the inflation to increase to 0.3%.
On a monthly basis, consumer prices decreased 0.2% in September after falling 0.1% in August. That was in line with expectations.
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