The Swiss stock market ended Thursday’s session with a strong gain, adding to its recent upward trend. The market has continued to benefit from the weakening of the Swiss franc against the Euro.
The market was positive in early trade Thursday and accelerated higher in the afternoon. The late acceleration was due to the better than expected economic news reported by the United States. U.S. housing starts surged and weekly jobless claims came in with a larger than expected decrease.
The Swiss Market Index increased by 1.71 percent Thursday and finished at 7,304.85. The Swiss Leader Index gained 1.56 percent and the Swiss Performance Index added 1.65 percent.
Cyclical stocks were among the best performers on Thursday. Clariant climbed by 3.2 percent, after the chemical company reaffirmed its financial targets for 2015. Kuehne + Nagel and Holcim each gained 2.7 percent. Syngenta rose by 2.6 percent and Adecco added 2.3 percent. Sulzer increased by 2.1 percent, after CEO Klaus Stahlmann stated that he is fundamentally optimistic about the company.
The index heavyweights also turned in a strong performance. Roche climbed by 3.1 percent and Novartis added 1.5 percent. Nestle ended the session higher by 1.6 percent.
by RTT Staff Writer
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