{"id":31907,"date":"2023-03-06T18:22:45","date_gmt":"2023-03-06T18:22:45","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2023\/03\/06\/swiss-market-ends-on-weak-note-as-inflation-data-weighs\/"},"modified":"2023-03-06T18:22:45","modified_gmt":"2023-03-06T18:22:45","slug":"swiss-market-ends-on-weak-note-as-inflation-data-weighs","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2023\/03\/06\/swiss-market-ends-on-weak-note-as-inflation-data-weighs\/","title":{"rendered":"Swiss Market Ends On Weak Note As Inflation Data Weighs"},"content":{"rendered":"
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The Switzerland stock market, which emerged into positive territory after a weak start on Monday, retreated soon and spent the rest of the day’s session in negative territory.<\/p>\n

Data showing an unexpected increase in Swiss consumer price inflation weighed on the market.<\/p>\n

The benchmark SMI ended the session with a loss of 42.84 points or 0.38% at 11,147.25, off the day’s low of 11,137.94. The index advanced to a high of 11,203.67.<\/p>\n

Nestle ended 2.4% down. Givaudan, Roche Holding, Credit Suisse and Geberit lost 0.9 to 1.2%. Lonza Group drifted down 0.6%.<\/p>\n

Swiss Life Holding and Richemont surged 2.55% and 2.24%, respectively. Sonova climbed about 1.2%, while Partners Group and Swiss Re both gained nearly 1%.<\/p>\n

In the Mid Price Index, Belimo Holding tanked nearly 9%. Lindt & Spruengli ended 1.83% down, while Zur Rose, Ems Chemie Holding, Barry Callebaut, Galenica Sante and SGS lost 1.2 to 1.6%.<\/p>\n

Helvetia rallied about 4.5%. Tecan Group and Dufry gained 2.35% and 2.16%, respectively.<\/p>\n

AMS, VAT Group, Baloise Holding, Kuehne & Nagel and Swiss Prime Site gained 1 to 1.6%.<\/p>\n

Data released by the Federal Statistical Office showed Switzerland’s consumer price inflation unexpectedly rose to a six-month high in February driven by food and energy prices, raising the scope for the fourth consecutive rate hike this month.<\/p>\n

The consumer price index, or CPI, grew 3.4% on a yearly basis that was slightly faster than the 3.3 percent increase seen in January. Economists had expected inflation to ease to 3.1%.<\/p>\n

Consumer prices gained 0.7% on a monthly basis after a 0.6% rise in the prior month. Economists had forecast prices to climb at a slower pace of 0.4%.<\/p>\n

Core consumer prices gained 0.8% monthly in February and increased 2.4% from the same period last year. <\/p>\n<\/p>\n

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