Swiss Stocks Rise as US Inflation Data Takes Center Stage

11:54 AM EST, 11/10/2026 (MT Newswires) -- The blue-chip Swiss Market Index ended Tuesday's trading session 0.61% in the green as investors assessed the latest economy-related data prints while keeping an eye on developments related to the two-day trilateral talks between Ukraine, Russia and the US that kicked off in Abu Dhabi. The KOF Swiss Economic Institute's global economic barometers both deteriorated in November, partially reversing recent gains, with the coincident barometer declining 1.4 points to 101.6 points and the leading barometer falling 1.7 points to 105.5 points. "Although both global barometers have lost some of their momentum, business and consumer sentiment remains above average worldwide, despite ongoing geopolitical tensions. For more than half a year, this has been driven by the industrial sector and, consequently, probably by the global AI boom," KOF director Jan-Egbert Sturm said. "In terms of expectations for the upcoming quarters, only the wholesale and retail sectors are performing below average. The recovery of the global economy is expected to continue." In the US, the inflation rate rose 0.4% month over month in October, following a 0.6% rise in September, according to data from the country's Bureau of Labor Statistics. "US consumer price inflation came in hotter than expected, with headline CPI rising 0.4% month-on-month and core CPI up 0.3%, both a tenth of a percentage point above expectations. No year-on-year rates were published because the government shutdown meant no price data was collected in October 2025," ING said. "Following on from Fed Governor Chris Waller's comments earlier today that he backs a 25bp hike in December and could even opt for a 50bp hike, Treasury yields have pushed higher, with the 10Y and 2Y up 6bp and 13bp, respectively. Markets are now fully pricing in a 25bp hike at the December Fed meeting, in line with our own forecast, versus 20bp from before Waller's comments." Back home and in corporate news, Sunrise Communications (SUNN.SW) achieved a net income of 800,000 francs in the third quarter, swinging from a year-ago net loss of 4.4 million francs. Revenue, on the other hand, decreased to 732 million francs from 740.9 million francs. The Swiss telecommunications services provider's stock shed 4.10% at closing. SGS (SGSN.SW) agreed to purchase North American food safety testing specialist Deibel Laboratories, expanding the Swiss testing and certification company's laboratory sites in the region to 23. The deal is anticipated to complete in early 2027. At the end of the trading day, SGS shares were down 0.34%.