BRUSSELS (dpa-AFX) - The Switzerland market's benchmark index SMI closed modestly higher on Thursday after a choppy ride as stocks swung between gains and losses with investors digesting the latest batch of economic data and continuing to assess the Middle East situation and its potential impact on growth.
The SMI ended up by 31.80 points or 0.22% at 14,394.77 after moving between 14,321.44 and 14,446.74.
Logitech International climbed 3.3%. Givaudan gained 2.4%, Sandoz Group ended 2.2% up, and Roche moved up 2.1%.
Swiss Life Holding, Partners Group, Zurich Insurance, Holcim and Helvetia Baloise Holding gained 1.5%-2%. Swiss Re, Schindler Ps and Sika climbed nearly 1%.
Richemont tumbled 3.1%. Alcon closed down by 2.3%, while VAT Group and Galderma Group ended lower by 1.9%.
Lindt & Spruengli, Straumann Holding and Nestle lost 1%-1.4%.
In economic news, Switzerland's economy expanded at the fastest pace in nearly five years in the second quarter, the State Secretariat for Economic Affairs, or SECO said.
Gross domestic product logged a quarterly growth of 1.5%, matching the preliminary estimate released in August and following a growth of 0.5% in the first quarter.
Unadjusted GDP growth more than doubled to 1.9% in the second quarter from 0.6% in the preceding period.
The Swiss National Bank had projected the economy to grow around 1% this year and about 1.5% next year.
Data released today showed that Swiss consumer price inflation accelerated more-than-expected to 0.8% in August, the highest level since September 2024, from 0.4% in July.
The consumer price index climbed 0.8% yearly in August, faster than the 0.4% increase in July. The expected inflation rate was 0.5%.
On a monthly basis, consumer prices rebounded 0.4% in August after falling 0.1% in July.
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