Swiss Market Ends On Firm Note
(RTTNews) - Despite opening on a cautious note and staying somewhat sluggish till about a couple of hours past noon, the Switzerland market ended on a firm note on Friday as stocks surged higher in the final hour on strong buying.
Data showing a contraction in U.S. private sector activity in the month of December and a slight drop in non-farm employment compared to a month earlier helped ease concerns about any aggressive tightening by the Federal Reserve in the coming months.
The benchmark SMI ended higher by 87.15 points or 0.79% at 11,144.54, slightly off the day's high.
Logitech surged nearly 3% and Richemont gained about 2.5%. Geberit and Swiss Re gained 1.66% and 1.56%, respectively.
Novartis, ABB, Roche Holding, Swisscom, Zurich Insurance Group and Sika gained 0.78 to 1.02%. Alcon, Nestle and Swiss Life Holding posted modest gains.
Lonza Group drifted down 2.05%. Sonova declined nearly 1% and Partners Group shed about 0.5%.
In the Mid Price Index, Belimo Holding, VAT Group and AMS gained 3.3%, 2.75% and 2.03%, respectively.
Galenica Sante, Clariant, SIG Combibloc, Georg Fischer, Baloise Holding and Flughafen Zurich surged 1 to 1.6%.
Adecco and Tecan Group ended lower by 1.15% and 1.1%, respectively. Lindt & Spruengli lost about 6% and Julius Baer ended 0.5% down.
In economic news, Switzerland's retail sales continued to fall in November, data from the Federal Statistical Office showed on Friday.
Retail sales adjusted for sales days and holidays fell a working-day adjusted 1.3% year-on-year in November. Sales decreased 2.6% in October.
On a monthly basis, retail sales grew 1.5% in November. In nominal terms, retail sales decreased 1.3% annually and advanced by 1.6% monthly in November.
U.S. Dollar Ticks Higher Amid Inflation Data Release, Expectations Of Reopening Of Strait Of Hormuz
TSX Climbs On Tech Rally, Looks Set To End 6-day Losing Streak
Swiss Market Ends Modestly Higher
European Markets Rise As Oil Prices Fall On IEA Demand Cut
U.S. Consumer Sentiment Deteriorates Much More Than Expected In September
CPSC Recalls: 2.3 Mln Candy Bottles, Motorcycles, Dressers, Dual Fuel Ranges, Fire Spray Canisters
U.S. Consumer Price Growth Matches Estimates, Core Prices Rise Slightly More Than Expected
