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The Switzerland stock market briefly tumbled into the red in early afternoon trades on Thursday, but recovered soon and ended the day’s session modestly higher on selective buying interest.<\/p>\n
Optimism about strong economic recovery and a firm trend in markets<\/span> across Europe lifted the market.<\/p>\n The benchmark SMI ended with a gain of 34.31 points or 0.29% at 11,977.03. The index touched a high of 12,015.66 early on in the session, and dropped to a low of 11,901.86 about an hour past noon.<\/p>\n Swiss Life Holding, up 1.25%, was the top gainer in the SMI. Sika gained nearly 1%, while UBS Group and Credit Suisse both ended up by about 0.85%.<\/p>\n Swiss Re, Swatch Group, Partners Group and Roche Holding ended higher by 0.4 to 0.7%, while Givaudan, Geberit and Holcim ended modestly lower.<\/p>\n Among the stocks in the Mid Price Index, Dufry climbed 4.3%. Clariant moved up nearly 2.5% and Tecan Group gained 2%, while Vifor Pharma gained 1.8%. Flughafen Zurich, OC Oerlikon Corp and Adecco ended nearly 1% up.<\/p>\n Schindler Ps, Schindler Holding and Logitech ended lower by 1.8%, 1.2% and 0.8%, respectively.<\/p>\n Data released by the Federal Statistical Office showed Switzerland’s consumer price inflation remained stable in June, growing by 0.6% year-on-year, same as seen in May. Economists had expected 0.7%.<\/p>\n On a monthly basis, consumer prices rose 0.1% in June, after a 0.3% increase in the previous month. Economists had expected a 0.2%.<\/p>\n The core CPI rose 0.3% yearly in June and remained unchanged from the previous month.<\/p>\n Preliminary data from the Federal Statistical Office showed Switzerland’s retail sales increased by 2.8% year-on-year in May. On a monthly basis, seasonally adjusted retail sales declined 1.8% in the month.<\/p>\n In nominal terms, retail sales increased 2.3 percent annually in May and fell 1.9 percent from a month ago. <\/p>\n<\/p>\n<\/div>\n