Swiss Market Ends Slightly Up

RTTNews | 1221 days ago

(RTTNews) - The Switzerland stock market ended slightly up on Monday, giving up most of its gains in the final hour of the day's session.

Activity was largely stock specific with investors reacting to quarterly earnings updates released by companies in recent days.

The benchmark SMI, which opened on a firm note, climbed to 11,616.37 about an hour past noon, and finally ended the session with a small gai of 13.52 points or 0.12% at 11,578.25.

Lonza Group surged 1.71% and Swiss Life Holding gained 1.13%. Zurich Insurance Group, Swisscom, Richemont and Alcon gained 0.5 to 0.75%.

Partners Group, Sonova, Swiss Re, Credit Suisse and Roche Holding ended weak.

In the Mid Price Index, Bachem Holding climbed nearly 3%. Swiss Prime Site gained about 2%. Temenos Group surged 1.82%, while Swatch Group, Baloise Holding and PSP Swiss Property gained 1.3 to 1.5%.

Barry Callebaut, Ems Chemie Holding, Belimo Holding, Schindler Holding, Clariant and Helvetia posted moderate gains.

SIG Combibloc drifted down more than 3%. Flughafen Zurich ended lower by 1.06%, and AMS ended 0.72% down.

In economic news, data from the Federal Statistical Office showed Switzerland's producer and import price inflation eased further in April to the lowest level in the current sequence of growth.

Producer and import prices rose 1% year-on-year in April, slower than the 2.1% increase in the previous month.

The producer price index climbed 1.9% annually in April, while import prices registered a fall of 0.9%. On a monthly basis, producer and import prices increased at a stable rate of 0.2% in April.

Data released earlier this month showed that Switzerland's consumer price inflation eased to a 1-year low of 2.6% in April amid easing energy and housing costs.

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