Logitech, Sonova Lead SMI Higher; Inflation Eases
(RTTNews) - The Switzerland market closed marginally up on Monday after staying above the flat line right through the day's session as easing concerns about geopolitical tensions and a sharp drop in oil prices helped keep sentiment positive.
The benchmark SMI, which advanced to 14,436.12 around mid-morning, ended with a gain of 25.63 points or 0.18% at 14,371.77.
Logitech International and Sonova closed higher by nearly 4%. Partners Group, Straumann Holding, Amrize and Sika moved up 3%-3.3%.
Geberit and Alcon climbed 2.7% and 2.3%, respectively. Richemont and Schindler Ps both ended higher by about 1.8%. SGS, Julius Baer and Givaudan moved up 1.4%, 1.27% and 1.1%, respectively.
VAT Group, ABB, Roche and Swiss Re advanced 0.6%-0.9%.
Sandoz Group shed 2.7%. Holcim drifted down 2.1%, while Novartis and Kuehne + Nagel lost 1.68% and 1.51%, respectively. Galderma Group closed down by 1%.
In economic news, data from the Federal Statistical Office showed Switzerland's consumer price inflation eased to the lowest level in four months in July.
The consumer price index rose 0.4% yearly in July, slower than the 0.5% increase in June.
Excluding unprocessed food and energy, core inflation remained stable at 0.3% in July.
On a monthly basis, consumer prices edged down 0.1% versus a flat change in June.
