Swiss Market Ends On Firm Note

(RTTNews) - The Switzerland market ended on a strong note on Monday after holding firm right through the day's session thanks to sustained buying at several counters.

Despite lingering concerns about geopolitical tensions and elevated oil prices, the mood in the Swiss market remained quite positive.

The benchmark SMI settled with a gain of 103.27 points or 0.75% at 13,878.54, after moving between 13,829.94 and 13,998.88.

Roche moved up 5%. Lindt & Spruengli, Nestle, Alcon, Kuehne + Nagel and Novartis climbed 1.7%-2.2%.

Sonova, Givaudan, Straumann Holding, Swisscom, Zurich Insurance and Swiss Re gained 1%-1.5%. Lonza Group, Galderma Group and Schindler Ps posted modest gains.

VAT Group dropped 7.65%. ABB dropped about 4.1%. UBS Group, Holcim, Sika, Amrize, Logitech International, Richemont and Partners Group also ended notably lower.

In economic news, Switzerland's producer and import prices increased for the first time in four months in August, the Federal Statistical Office reported.

The producer and import price index posted a monthly increase of 0.7% in August, reversing a 0.1% decrease in July. That was faster than the 0.1% rise expected by economists.

The producer price index decreased 1.3% from last month, while import prices climbed 0.8%.

On a yearly basis, the decline in producer and import prices eased to 0.7% from 2.1% in July.