The Switzerland stock market ended on a bright note on Wednesday, tracking the trend in global markets amid signs of strong economic rebound from the pandemic.
Investors were digesting earnings announcements and other corporate news, as well as data on Swiss consumer prices.
The benchmark SMI ended with a gain of 137.95 points or 1.26% at 11,108.88, slightly off the day’s high of 11,114.37.
ABB, Geberit and Sika gained 3.2 to 3.8%. UBS Group, Richemont, Givaudan, LafargeHolcim and Partners Group ended stronger by 2 to 2.6%.
Lonza Group, Swiss Re, SGS, Zurich Insurance Group, Swiss Life Holding, Novartis, Roche Holding and Swatch Group also closed on firm note.
Alcon shares plunged 5.8% despite posting earnings per share of 17¢ on sales of $1.9 billion for the three months ended March 31, 2021, registering revenue growth of 4.8% year-over-year.
In the Mid Price section, AMS surged up more than 9%. Clariant, SIG Combibloc, Straumann Holding, Kuehne & Nagel, Logitech, Georg Fischer and Dufry gained 2 to 4%. Ems Chemie Holding ended nearly 2% up, while Julius Baer and Barry Callebaut gained 1.7% and 1.6%, respectively.
Data from the Federal Statistical Office showed Switzerland’s consumer prices rose for the first time in fifteen months in April, increasing by 0.3% year-on-year, after a 0.2% fall in March. This was in line with economists’ expectation.
On a monthly basis, consumer prices rose 0.2% in April, after a 0.3% increase in the previous month. Prices for fruits, vegetables, clothing and hotel accommodation increased in April, while prices for heating oil and berries declined.
The core CPI remained unchanged yearly in April and rose 0.2% from the previous month. The EU measure of harmonized index for consumer prices, or HICP rose 0.3% monthly in April and decreased 0.1% from a year ago.
Market Analysis
Swiss Market Closes On Bright Note
2021-05-05 18:32:36
