The Swiss stock market finished Tuesday on a high note, overcoming early declines as investor confidence grew throughout the day. Contributing to this positive sentiment was data indicating a deceleration in consumer price inflation.
The SMI, the market's primary index, closed with an increase of 139.64 points, or 1.19%, reaching 11,830.77.
Among the top performers, Logitech International and Roche Holdings both advanced by 2.7%, while Lonza Group saw a rise of approximately 2.3%.
A host of major companies, including Swiss Re, Novartis, Straumann Holding, Swatch Group, Sonova, Nestle, Richemont, and Julius Baer, gained between 1% and 1.7%. Other firms such as Alcon, Swisscom, Lindt & Sprüngli, VAT Group, Zurich Insurance Group, and Partners Group also finished strongly.
In contrast, Schindler Ps declined by 1.19%, with Holcim, Kuehne + Nagel, Sika, Geberit, Adecco, and ABB also closing in negative territory.
According to the Federal Statistical Office, Switzerland’s consumer price inflation eased slightly by the end of the year, with a year-over-year increase of 0.6% in December, down from 0.7% the previous month.
Housing and energy costs rose by 3.4% annually, while prices for recreation and culture increased by 1.1%. However, food and non-alcoholic beverages saw a price decrease of 0.9%, and transport costs fell by 1.9% compared to last year.
For 2024, the average annual inflation was reported to be 1.1%.
Month-over-month, consumer prices dipped steadily by 0.1% in December, matching expectations and marking the fourth consecutive month of decline.
The material has been provided by InstaForex Company -
www.instaforex.com
