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Swiss Market Closes Modestly Higher

Despite moving along the flat line in lackluster trade till well past noon, the Switzerland stock market ended modestly higher on Tuesday as select counters saw some buying interest in late afternoon trades.

The benchmark SMI ended with a gain of 22.47 points or 0.19% at 12,097.29, after scaling a low of 12,053.30 and a high of 12,129.73 intraday.

Alcon and Lonza Group both ended nearly 2% up. Roche Holding shares gained about 1.35%, while SGS, Sika and Partners Group gained 0.75 to 0.8%.

Richemont ended lower by about 3.5%. Swatch Group shed 1.7% and Credit Suisse ended 1.25% down. Swiss Re and Zurich Insurance Group lost 0.6% and 0.55%, respectively.

In the Mid Price Index, Sonova moved up 3.75%. VAT Group gained 3.25%, Straumann Holding climbed 2.8% and Tecan Group advanced 2.6%. Kuehne & Nagel and Galenica Sante gained 2.1% and 1.4%, respectively.

Helvetia declined nearly 5%. Cembra Money Bank and Adecco Group both shed about 3.45%. Dufry, Ems Chemie Holding and Barry Callebaut lost 1.4 to 1.8%.

On the economic front, Switzerland's producer and import prices increased in August, data from the Federal Statistical Office showed.

Producer and import prices rose 4.4% year-on-year in August, according to the data. The producer price index increased 2.9% annually in August and import prices accelerated 7.6%.

On a monthly basis, producer and import prices increased 0.7% in August. Prices for chemical products and pharmaceutical products were higher in August, the agency said.

Domestic sale prices grew 2.6% yearly in August and rose 0.2% from a month ago.

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