BRUSSELS (dpa-AFX) - The Switzerland stock market ended modestly higher on Tuesday, as concerns over a U.S.-Iran standoff eased, with no immediate retaliation from Iran over the assassination of the country's top military commander Major-General Qasem Soleimani.
The benchmark SMI ended up 0.2% at 10,686.80.
Among the gainers in the SMI index, UBS Group moved up by about 2.65% and Credit Suisse ended 2.55% up.
Richemont ended stronger by 1.75%. LafargeHolcim, Swiss Life Holding, Alcon and Zurich Insurance Group gained 0.4 to 0.7%.
Givaudan and Nestle lost about 1% each, while Sika declined 0.44%.
In the midcap section, AMS ended about 4.7% up. Clariant and Straumann Holding gained 2.3% and 2.15%, respectively, while Juehne & Nagel, Vifor Pharma, Ems Chemie Holding and Bucher Industries gained 1 to 1.35%.
On the economic front, Switzerland's consumer prices rose for the first time in three months in December, data from the Federal Statistical Office showed. The consumer price index edged up 0.2% year-on-year in December, after a 0.1% decline in Novembmer. The index was expected to remain unchanged.
On a monthly basis, consumer prices remained unchanged in December after falling in the previous three months. Economists had expected a 0.1% fall.
The core inflation was 0.4% in December and the core CPI remained unchanged from the previous month.
The annual average inflation more than halved to 0.4% in 2019 from 0.9% in the previous year. In 2017, price growth was 0.5%.
The statistical office attributed the rise in inflation mainly to higher prices for housing rentals and for new cars. Prices of petroleum products and medicines decreased.
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