Swiss Market Ends On Firm Note

(RTTNews) - After a flat start and a subsequent fall to lower levels, the Switzerland market recovered on Monday, and despite staying a bit sluggish till around mid afternoon, managed to end the day's session on a firm note.

The benchmark SMI ended up 44.50 points or 0.4% at 11,230.40, recovering from a low of 11,124.02.

Sonova climbed about 2.6%. Logitech International gained nearly 2%, while Alcon, Lonza Group and Swiss Life Holding ended higher by 1.2 to 1.6%. ABB, Swiss Re, Richemont, Partners Group and Givaudan also ended on a firm note.

Kuehne & Nagel drifted down 2%. Swisscom and Sika ended lower by 0.39% and 0.35%, respectively.

Temeons Group, down 3.8%, was the top gainer in the Mid Price Index. Meyer Burger Tech, Tecan Group and ams OSRAM AG gained 2.7%, 2.3% and 2.2%, respectively.

Flughafen Zurich gained nearly 2%, while Lindt & Spruengli, VAT Group, BKW, Avolta, Straumann Holdings, Georg Fischer and Swatch Group advanced 0.8 to 1.4%.

SGS ended down 3.3%, and Barry Callebaut ended nearly 2% down. Baloise Holding and Clariant closed modestly lower.

Data from the Federal Statistical Office showed Switzerland's consumer price inflation increased more-than-expected in December. The consumer price index, or CPI, climbed 1.7% year-over-year in December, after a 1.4% gain in November, the data said. Economists had expected inflation to rise slightly to 1.5%.

However, inflation remained within the central bank's target range of 0-2%.

On a monthly basis, consumer prices remained flat in December, versus a 0.2% decrease in November.

Meanwhile, Switzerland's retail sales increased for the first time in five months in November amid more demand for non-food items, a separate data from the Federal Statistical Office showed.

Retail sales adjusted for sales days and holidays rose a working-day adjusted 0.7% year-on-year in November, reversing a 0.3% drop in October. Meanwhile, sales were expected to remain flat.

On a monthly basis, retail sales climbed a seasonally adjusted 0.7% in November versus a 0.4% gain a month ago. In nominal terms, retail sales grew 1.6% annually and by 0.6% monthly in November.