Swiss Market Ends Modestly Higher
(RTTNews) - After a flat start, the Switzerland market gained in strength and stayed positive right through the trading session on Tuesday, in line with markets across Europe.
The benchmark SMI ended with a gain of 48.84 points or 0.38% at 13,052.17, about 50 points off the day's high of 13,101.88.
Sandoz Group climbed nearly 5%. VAT Group moved up 3.2% and ABB gained 2.75%. Lonza Group and Amrize ended stronger by 2.3% and 2.2%, respectively.
Logitech International, Swisscom, Kuehne + Nagel, SGS and UBS Group also posted strong gains.
Lindt & Spruengli ended down by 1.47%. Swiss Life Holding, Givaudan and Nestle lost 0.8%-1.1%.
Data released by the Federal Statistical Office showed consumer prices in Switzerland increased by 0.6% year-on-year in April, accelerating from a 0.3% rise in the previous month. It is the highest reading since December 2024.
On a monthly basis, the CPI rose by 0.3%, below expectations of a 0.4% increase but accelerating from March's 0.2% gain. Annual core inflation, which excludes volatile items such as unprocessed food and energy, rose 0.3% after increasing 0.4% in March, marking the softest increase since July 2021.
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