Swiss Stock Market Ends Marginally Down, Cautious Mood Persists

Strategic Insights -

The Swiss stock market ended on a moderate note on Monday, bringing an end to a five-day winning streak. Despite a significant drop in inflation data, the market remained cautious, with the benchmark SMI index experiencing only a slight decline. UBS Group and Credit Suisse led the losers, while Swisscom, Novartis, and Nestle showed modest gains.

Key Takeaways:

  • The SMI index settled at 11,093.09, down 13.15 points or 0.12% from the previous close.
  • UBS Group and Credit Suisse ended lower by 2.88% and 2.36%, respectively.
  • Logitech drifted down 1.81%, and Alcon, Swiss Re, Partners Group, and Swiss Life Holding shed 0.6 to 1%.
  • Swisscom, Novartis, Nestle, and Givaudan gained 0.5%, 1.25%, and 0.94%, respectively.
  • Dufty ended higher by about 0.5%.
  • Consumer price inflation in Switzerland eased to 2.9% year-over-year in March, the lowest level in three months.
  • The key driver of the annual price growth in March was a 6.3% rise in prices of food and non-alcoholic beverages.
  • The overall inflation in March was largely driven by a 4.9% ease in utilities prices.

Statistics:

  • The SMI index moved between 11,049.57 and 11,119.60.
  • The SMI index settled at 11,093.09, down 13.15 points or 0.12% from the previous close.
  • UBS Group lost 2.88%, while Credit Suisse shed 2.36%.
  • Logitech declined 1.81%
  • Swisscom, Novartis, and Givaudan ended the day higher by 0.5%, 1.25%, and 0.94%, respectively.
  • Consumer price inflation in March eased to 2.9% year-over-year.

Sources:

  • [Federal Statistical Office](link)
  • [Swiss stock market data](link)
  • [UBS Group](link)
  • [Credit Suisse](link)
  • [Swisscom](link)
  • [Novartis](link)
  • [Nestle](link)
  • [Givaudan](link)
  • [Dufty](link)