The Swiss stock market ended Tuesday’s session in the green Tuesday, largely due to the positive performance of its most heavily weighted stocks. Financial and cyclical stocks were also among the positive movers.
The market was weak in early trade, after the weaker than expected British industrial output report. However, the market turned positive in the afternoon, thanks in part to the continued positive performance of the U.S. markets.
The Swiss Market Index increased by 0.57 percent Tuesday and finished at 7,802.93. The Swiss Leader Index climbed by 0.44 percent and the Swiss Performance Index gained 0.51 percent.
Pharmaceutical giants Novartis and Roche finished higher by 0.7 percent and 0.8 percent respectively. Shares of Nestle also climbed by 0.7 percent. Luxury goods companies Swatch and Richemont rose by 0.9 percent and 1.4 percent respectively.Among the financial stocks, Credit Suisse and Julius Baer both increased by 0.7 percent each. UBS also added 0.3 percent. Baloise was the top gainer among the insurers, with an increase of 0.6 percent.
by RTT Staff Writer
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