{"id":43843,"date":"2024-02-15T18:18:51","date_gmt":"2024-02-15T18:18:51","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/02\/15\/swiss-market-ends-moderately-higher-7\/"},"modified":"2024-02-15T18:18:51","modified_gmt":"2024-02-15T18:18:51","slug":"swiss-market-ends-moderately-higher-7","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/02\/15\/swiss-market-ends-moderately-higher-7\/","title":{"rendered":"Swiss Market Ends Moderately Higher"},"content":{"rendered":"
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The Switzerland market ended higher on Thursday, in line with markets<\/span> across Europe, as some encouraging earnings updates from the region, and hopes about interest rate cuts sometime in the second quarter, helped underpin sentiment.<\/p>\n

The benchmark SMI ended higher by 70.54 points or 0.63% at 11,284.18, after moving in a tight range between 11,231.66 and 11,292.07.<\/p>\n

Richemont climbed 1.64%. Nestle, Swiss Life Holding, ABB, Swiss Re, Swisscom and Logitech International gained 1 to 1.32%.<\/p>\n

Sika and Zurich Insurance Group both ended nearly 1% up. Partners Group, UBS Group and Alcon posted moderate gains.<\/p>\n

Lonza Group ended down 0.91%. Givaudan eased 0.35%, while Kuehne & Nagel and Roche Holding edged down marginally.<\/p>\n

In the Mid Price Index, Julius Baer and ams OSRAM AG gained 4.12% and 3.75%, respectively. Straumann Holding climbed nearly 2.5% and Georg Fischer advanced 2.3%.<\/p>\n

Swatch Group, PSP Swiss Property, Schindler Holding, Tecan Group and Flughafen Zurich ended higher by 1 to 1.75%.<\/p>\n

Temenos Group plunged 28.2%, after Hindenburg Research short sold the stock alleging “accounting irregularities, failed products and an illusive turnaround”. Meyer Burger tech ended nearly 4% down.<\/p>\n

Survey data from the State Secretariat for Economic Affairs (SECO) said consumer morale in Switzerland improved for a third straight month in January led by stronger economic and financial expectations.<\/p>\n

The consumer confidence index rose to -41 from -44 in December. A year ago, the score was -35. In October, the reading was -53.<\/p>\n

Another data from SECO said Switzerland’s producer and import prices declined for the ninth straight month in January, dropping 2.3% year-on-year, faster than the 1.1% fall in the previous month.<\/p>\n

Further, this was the steepest decrease since December 2020, when prices had fallen the same 2.3%.<\/p>\n

The producer price index dropped 0.1% annually in December, while import prices registered a sharp decrease of 6.5%.<\/p>\n

On a monthly basis, producer and import prices dropped 0.5% in January versus a 0.6% fall in the prior month. <\/p>\n<\/p>\n

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