BRUSSELS (dpa-AFX) - Despite data showing consumer confidence in the country hitting a historic low, the Switzerland stock market ended on a firm note on Tuesday, as several countries across Europe relaxed shutdown restrictions and reopened some businesses.
The benchmark SMI ended up 121.90 points, or 1.3%, at 9,512.17, after staying positive right through the session.
Alcon, the top gainer in the SMI, moved up 5.2%. Novartis, Sika, Richemont and Nestle gained 2 to 2.4%, while ABB ended nearly 2% up.
Geberit, UBS Group, Lonza Group, Givaudan, Roche Holding and Zurich Insurance Group also ended on a firm note, while Credit Suisse ended nearly 1% down.
In the midcap section, Vifor Pharma soared more than 8%. Straumann Holding gained 5.1% and Sonova ended 4.4% up.
AMS, BB Biotech, Partners Group, Temenos Group, Swiss Prime Site and Lindt & Sp Ps surged up 2 to 3.7%. VAT Group ended nearly 2% up.
Clariant, Dorma Kaba Holding, Bucher Industries, Julius Baer and Georg Fischer also ended with strong gains.
Kuehne & Nagel International said it signed a five-year contract with Leonardo, an aerospace, defence and security industries company. The stock gained about 0.65%.
Dufry declined more than 7%. Helvetia and Baloise Holding ended lower by 1.4% and 0.9%, respectively.
Swiss consumer confidence reached a historic low in April amid coronavirus pandemic, survey results from the State Secretariat for Economic Affairs, or SECO, showed. The consumer sentiment index fell to -39 in April from -9 points in January. The preliminary reading was -40.
The survey showed that coronavirus is dampening expectations regarding general economic development and unemployment. The indicator for future economic situation plunged to -78.3 from -7.1.
Respondents were getting ready for tough times in terms of their own financial situation. The index for past financial situation improved to -7.2 from -14.2, while expectations deteriorated to -23.6 from -8.0.
The major purchases index came in at -48.0 versus -8.3 in the preceding period.
Data from the Federal Statistical Office showed Switzerland's consumer prices declined the most in over four years in April, decreasing 1.1% year-on-year, following a 0.5% fall in March. Economists had expected a 0.8% decline.
On a monthly basis, consumer prices fell 0.4% in April, after a 0.1% rise in the previous month. Economists had expected a 0.1% decline.
The monthly decline was driven by falling prices for air transport, hotel accommodation and petroleum products. In contrast, prices for vegetables and clothing increased, the agency reported.
The core CPI fell 0.5% annually in April and declined 0.2% from the previous month.
The EU measure of harmonized index of consumer prices rose 0.1% percent monthly in April and fell 0.1% from the previous year.
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