{"id":7460,"date":"2021-02-12T19:16:09","date_gmt":"2021-02-12T19:16:09","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/02\/12\/swiss-market-closes-higher-for-5th-straight-session\/"},"modified":"2021-02-12T19:16:09","modified_gmt":"2021-02-12T19:16:09","slug":"swiss-market-closes-higher-for-5th-straight-session","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/02\/12\/swiss-market-closes-higher-for-5th-straight-session\/","title":{"rendered":"Swiss Market Closes Higher For 5th Straight Session"},"content":{"rendered":"
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The Switzerland stock market settled modestly higher on Friday, in line with the trend seen in most of the markets<\/span> across Europe, as investors picked up shares amid continued optimism about economic recovery.<\/p>\n

The market, which stayed quite sluggish till mid afternoon, gradually edged higher thereafter to eventually sign off with modest gains, rising for a fifth straight day.<\/p>\n

The benchmark SMI ended up 27.46 points or 0.25% at 10,880.37 after scaling a low of 10,816.71 and a high of 10,890.82.<\/p>\n

Lonza Group surged up 1.4%, ABB and Givaudan both ended higher by about 1.1%, Sika ended nearly 1%, and Geberit, SGS and UBS Group gained 0.6 to 0.8%.<\/p>\n

Swatch Group, Zurich Insurance Group and Richemont ended modestly lower.<\/p>\n

In the midcap section, Galenica Sante, VAT Group, Sonova and Kuehne & Nagel gained 2.6 to 3.2%. Lindt & Spruengli, Schindler Holding, Schindler Ps, SIG Combibloc and Lindt & Spruengli moved up 1.3 to 1.8%.<\/p>\n

On the other hand, Temenos Group and Cembra Money Bank ended lower by 3.5% and 2.5%, respectively. AMS ended 1.6% down and Adecco eased by about 1.3%.<\/p>\n

On the economic front, data from the Federal Statistical Office showed Switzerland’s consumer prices declined in January, albeit at a softer pace.<\/p>\n

The consumer price index decreased 0.5% year-on-year in January, following a 0.8% fall in December. Economists had expected a 0.6% fall.<\/p>\n

On a monthly basis, consumer prices rose 0.1% in January, reversing a 0.1% decline in the preceding month.<\/p>\n

Prices for hotels, fuels and used cars grew in January, while prices for air transport, and clothing and footwear declined, the data showed.<\/p>\n

The core CPI remained unchanged annually in January and declined 0.2% from the previous month. <\/p>\n<\/p>\n

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