Overcoming lackluster trading during the morning, Swiss stocks rallied in the final hours of Thursday's session to finish the day modestly higher. The advance, though mild, broke a recent losing streak that included a 1.2-percent decline the previous day.
Going into trading, sentiment remained negative, hurt by concerns about the Greek debt situation and about the state of the economy in the U.S. However, bargain hunting began to set in during the afternoon, after new data showed a decline in the U.S. trade deficit and amid interest-rate comments from ECB President Jean-Claude Trichet.
The ECB kept its benchmark interest rate unchanged at 1.25 percent. Meanwhile, Trichet signaled that a rate hike was likely in July, citing increased inflation risks.
The benchmark SMI fished higher by 0.23 percent, closing at 6,271.01. The SLI rose 0.45 percent to 976.87. The SPI advanced 0.25 percent to 5,773.29.
Financial stocks were mixed. UBS gained 0.7 percent, but CS saw a 0.4-percent retreat. This amid continued discussion about the rescheduling of debt payments in Greece.
Nestle slipped by 0.3 percent, weighed down by negative analyst comments. CS Research lowered its price target on the stock and Barclays downgraded its rating from Overweight to Equal Weight.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.