The Swiss stock market finished in positive territory on Monday, rebounding slightly from the losses of the previous week. The market began the session in the red, but managed to recover as the trading day wore on.
Hopes for an economic stimulus plan for China brightened sentiment at the start of the week. Statements made by Chinese Premier Wen Jiabao regarding the growth of the country fueled speculation about support measures.
The Swiss Market Index climbed by 0.29 percent Monday and finished at 5,814.59. The Swiss Leader Index increased by 0.54 percent and the Swiss Performance Index gained 0.33 percent.
The speculation surrounding China sparked a surge in the shares of luxury goods companies. Richemont jumped by 2.9 percent and Swatch climbed by 0.8 percent. Also among the positive performers Monday were shares of Logitech, with a gain of 4.4 percent. Clariant rose by 3.7 percent, Nobel Biocare by 4.3 percent and SGS finished up by 1.3 percent.
Financial stocks were also among the positive performers Monday. UBS climbed by 1.1 percent, Credit Suisse gained 0.4 percent and Julius Baer increased by 0.3 percent. Swiss Life finished higher by 1.1 percent and Swiss Re gained 0.6 percent.
by RTT Staff Writer
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