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The Swiss Stock Market Closed Higher Monday With Support From Index Heavyweights

The Swiss stock market began the trading week with a positive finish Monday. The market looks to recover from the losses it has suffered in recent weeks. Concerns over Spain weighed on the market, after the yield on ten-year Spanish government bonds climbed to the threshold of 6% for the first time this year.

The better than expected retail sales report by the U.S. helped to fuel the recovery in the afternoon. The weaker than expected U.S. homebuilder confidence and Empire state index results were less noticed.

The Swiss Market Index climbed by 0.87 percent Monday and finished at 6,124.91. The Swiss Leader Index gained 0.42 percent and the Swiss Performance Index closed higher by 0.58 percent.

Kuehne + Nagel was one of the biggest decliners Monday. The stock sank by 9.5 percent after the company's lower than expected quarterly report.

The defensive heavyweights provided support to the market. Roche increased by 1.9 percent, Novartis climbed by 1.1 percent and Nestle closed higher by 0.7 percent.

by RTT Staff Writer

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