Wednesday Swiss Stock Market Rebound

The Swiss stock market was built on Wednesday’s early rise and then shook off the noon slump before it recovered to closing prices.

Rising commodity prices market It pushed up miners and energy inventories as concerns about the new Covid-19 variant were eased.

Banks also traded higher after the Federal Reserve showed a faster tapering of bond purchases.

The SMI on the day closed at 12,266.46, up 106.77 points (0.88%) after trading between 12,139.24 and 12,292.86.

Among activists, Adecco soared 4.18%, The Swatch Group soared 2.36%, Roche Holding soared 1.71%, Zurich Insurance soared 1.64%, UBS Group soared 1.41% and Swiss Re soared 1.25%. , Novartis rose 1.09% and Credit Suisse rose 0.90. Percentages, Swiss Life fell 0.42 percent and Swisscom rose 0.31 percent.

In economic news, Swiss consumer price inflation accelerated more than expected in November, Federal Statistics Bureau data said Wednesday.

Inflation rose from 1.2% in October to 1.5% in November. This was also greater than the economist’s forecast of 1.4%. On a monthly basis, consumer prices in November were flat.

According to the data, fuel prices have risen since last month, as have housing rents and kerosene prices. In contrast, hotel accommodation prices have fallen as well as fruit and vegetable prices.

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Wednesday Swiss Stock Market Rebound

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