Swiss Market Ends On Strong Note

(RTTNews) - Swiss stocks turned in a fine performance on Wednesday, extending gains from the previous session, thanks to positive global clues.

After opening modestly higher, the benchmark SMI moved up and stayed firm right till the end of the session, to finish with a gain of 161.63 points or 1.47% at 11,140.27, the day's high.

Swiss Re ended stronger by about 4.6%. Geberit, ABB and Sika gained 3.3 to 3.75%.

Givaudan, Richemont, UBS Group, Credit Suisse, Partners Group, Nestle, Logitech, Swiss Life Holding, Sonova and Lonza Group rallied 1.5 to 2.6%.

In the Mid Price Index, AMS climbed 6.78%. Zur Rose gained 5.8%, while Adecco, Temenos Group, Schindler Ps, Schindler Holding, Flughafen Zurich, SIG Combibloc, Clariant, Ems Chemie Holding and Julius Baer gained 2.3 to 4%.

Data released by Swiss Federal Statistical Office showed the annual inflation rate in Switzerland dropped to 2.8% year-on-year in December, from 3% in the prior two months. The 2.8% inflation figure is slightly lower tha the 2.9% forecast.

The consumer price index in Switzerland eased to 0.2% in December 2022 over the previous month.