(dpa-AFX) - The Swiss stock market ended Tuesday's session with a substantial increase. The market received an early boost after the Chinese stock market finished with a modest increase. After the sharp declines in
last week, their market is beginning to show sighs of stabilization.
The Swiss stock market rose above 8,300 points quickly Tuesday and rose to nearly 8,400 points by lunchtime. However the market finished off its session highs. Markets in
began to weaken in late trade, after early gains in the
began to erode.
The Swiss Market Index increased 1.44 percent Tuesday and finished at 8,332.04. The Swiss Leader Index advanced 1.32 percent and the Swiss Performance Index gained 1.39 percent.
Sika was the top performing stock of the session, with an increase of 4.3 percent. The company reported fourth quarter sales growth of 8.3 percent and it now expects the increase in its 2015 operating results to be above average.
Geberit increased 3.5 percent, after a "Buy" recommendation from Kepler Cheuvreux.
SGS was another notable gainer. The stock climbed 3.2 percent after Credit Suisse upgraded its rating to "Outperform" from "Neutral."
The index heavyweights all finished solidly in the green Tuesday. Nestle led the way with an increase of 2.2 percent. Novartis gained 1.5 percent and Roche finished higher by 1.2 percent.
Clariant advanced 2.0 percent and Syngenta rose 1.7 percent. Swatch gained 1.7 percent and Richemont added 0.9 as concerns over
eased a bit. Zurich Insurance
climbed 1.8 percent, adding to its gains from the prior session.
Transocean declined 1.8 percent as crude oil prices continue to fall.
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Source: Equities.com News
(January 12, 2016 - 2:24 AM EST)
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