The Swiss Stock Market Climbed Thursday With Support From Index Heavyweights

(RTTNews.com) - The Swiss stock market ended Thursday's session in positive territory, despite the lingering uncertainty created by the Italian election. The index heavyweights all finished to the upside Thursday and cyclical stocks also performed well.

The positive performance of the U.S. stock markets and some better than expected economic data provided a boost to the market in the afternoon. The unexpected increase in the Chicago business barometer and the better than expected jobless claims data were viewed positively.

The Swiss Market Index increased by 1.45 percent Thursday and finished at 7,593.67. The Swiss Leader Index climbed by 1.28 percent and the Swiss Performance Index gained 1.36 percent.

Novartis was the top gainer among the index heavyweights, with an increase of 1.9 percent. Nestle followed with a gain of 1.7 percent and Roche added 1.3 percent.

Luxury goods companies Swatch and Richemont increased by 2.9 percent and 2.0 percent respectively. Among the cyclical stocks, Clariant climbed by 2.8 percent, while Holcim added 2.1 percent. ABB also rose by 1.2 percent, after it was awarded a $10 million contract from the Icelandic TSO Landsnet.

For comments and feedback: contact editorial@rttnews.com

http://www.rttnews.com