{"id":30060,"date":"2023-01-12T17:51:20","date_gmt":"2023-01-12T17:51:20","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2023\/01\/12\/swiss-market-ends-higher-for-2nd-straight-day-4\/"},"modified":"2023-01-12T17:51:20","modified_gmt":"2023-01-12T17:51:20","slug":"swiss-market-ends-higher-for-2nd-straight-day-4","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2023\/01\/12\/swiss-market-ends-higher-for-2nd-straight-day-4\/","title":{"rendered":"Swiss Market Ends Higher For 2nd Straight Day"},"content":{"rendered":"
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After holding gains following a firm start Thursday morning, the Switzerland market very nearly dropped into negative territory in late afternoon trade, but recovered swiftly to eventually end the session on a firm note.<\/p>\n

Soft U.S. inflation data helped outweigh concerns about interest rates. Optimism about economic growth following China reopening contributed as well to the positive sentiment in the market.<\/p>\n

The benchmark SMI ended with a gain of 41.81 points or 0.37% at 11,287.82. The index, which climbed to 11,328.80 about an hour past noon, dropped to 11,247.96 before climbing higher again.<\/p>\n

Credit Suisse and Swiss Life Holding surged 2.8% and 2.7%, respectively. Swiss Re ended nearly 2% up.<\/p>\n

Sika and Lonza Group advanced 1.6% and 1.4%, respectively. UBS group, Richemont, ABB, Swisscom, Partners Group and Alcon gained 0.6 to 1.2%.<\/p>\n

Shares of of software and computer peripherals manufacturer Logitech plunged nearly 17% after the company cut its sales outlook. <\/p>\n

Givaudan ended 1.25% down, while Roche Holding ended lower by 0.29%. Roche said it has received European Commission approval for Xofluza in children aged one year and above.<\/p>\n

In the Mid Price Index, Zur Rose rallied nearly 7%. Schindler Holding gained about 4% and Schindler Ps climbed 3.4%.<\/p>\n

Dufry and AMS ended higher by 2.78% and 2.65%, respectively. Adecco, Baloise Holding, Helvetia and Lindt & Spruengli gained 1.3 to 2.05%.<\/p>\n

Tecan Group dropped 2.9% and Straumann Holding drifted down 2.25%. Temenos Group and SIG Combibloc lost 1.2% and 1%, respectively.<\/p>\n

Data released by the Labor Department showed U.S. consumer price index edged down by 0.1% in December after inching up by 0.1% in November. Economists had expected consumer prices to come in unchanged.<\/p>\n

The report also showed the annual rate of consumer price growth slowed to 6.5% in December from 7.1% in November, in line with expectations. The annual growth was the slowest since October 2021.<\/p>\n

The annual rate of core price growth slowed to 5.7% in December from 6% in November. The year-over-year growth was also in line with expectations. <\/p>\n<\/p>\n

Market Analysis<\/p>\n<\/div>\n