On Monday, the Swiss market concluded with moderate gains, mirroring the upward trend across European markets. This positive sentiment was fueled by improved services sector activity data from the region, combined with optimism over a potential recovery in the Chinese economy following recent stimulus interventions.
Market participants assessed retail sales data and activity reports from the manufacturing and services sectors in Germany, France, and the UK. The Swiss Market Index (SMI) closed 67.11 points higher, representing a 0.58% increase, reaching 11,691.13 — the peak for the day.
Significant gains were observed with VAT Group climbing nearly 5%, Logitech International advancing by 3.85%, and Richemont strengthening by 3.6%. UBS Group and Sika rose by 2.64% and 2.25%, respectively. Additionally, Straumann Holding gained 1.82% and Swatch Group increased by 1.75%. Other notable risers included Lonza Group, Schindler Ps, Partners Group, Julius Baer, Holcim, ABB, SGS, and Geberit.
Conversely, Givaudan ended the day down by 1.44%, Sonova decreased by 0.7%, and Nestle lost almost 1%.
According to the Federal Statistical Office, Swiss retail sales growth slowed more than anticipated in November due to a reduced increase in demand for non-food items. Retail sales showed a 0.8% year-on-year rise following a stable 1.5% increase in October. This marked the fifth consecutive month of growth, although economists had predicted a 1.3% increase. On a monthly basis, retail sales fell by 0.1% in November, compared with a 0.1% growth in the previous month. In nominal terms, retail turnover recorded an annual decrease of 0.3%.
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