The Swiss Stock Market Climbed At The Start Of The Week

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(RTTNews.com) - The Swiss stock market got off to a positive start Monday, but pared its gains during the first half of the session. However, the market staged a recovery in the afternoon and finished just shy of its intraday high.

Traders continued to react positively to dovish comments from Federal Reserve Chair Jerome Powell last week. Investors were also encouraged by the stronger than expected German business confidence data.

The Swiss Market Index increased by 0.51 percent Monday and finished at 9,098.70. The Swiss Leader Index climbed 0.66 percent and the Swiss Performance Index added 0.52 percent.

The index heavyweights all finished with small gains. Roche advanced 0.6 percent and Nestle added 0.1 percent. Novartis also gained 0.1 percent after it received approval from the European Commission for its leukemia treatment Kymriah.

Sika was the top performing stock of the session, with an increase of 2.4 percent. Geberit gained 1.5 percent and Adecco added 1 percent.

ABB finished higher by 1.1 percent. Swiss newspaper Finanz und Wirtschaft reported over the weekend that ABB will not sell its power grid unit.

Richemont climbed 1.1 percent and rival Swatch Group added 0.9 percent.

Credit Suisse increased 0.8 percent and UBS rose 0.7 percent. Meanwhile, Julius Baer slid 0.3 percent.

Read the original article on RTTNews (http://www.rttnews.com/2929717/the-swiss-stock-market-climbed-at-the-start-of-the-week.aspx)

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This article appears in: Politics , World Markets , US Markets , Stocks

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