The Swiss stock market closed in positive territory again Tuesday, extending its gains from the previous session. The market began the session to the upside and continued to advance after the positive open in the U.S. markets and the U.S. housing report. Concerns over the euro debt crisis eased ahead of the EU summit, which is scheduled to take place on Wednesday.
The Swiss Market Index rose by 1.64 percent Tuesday and finished at 5,910.20. The Swiss Leader Index climbed by 1.60 percent and the Swiss Performance Index gained 1.56 percent.
Shares of the big banks were among the top gainers on Tuesday. Credit Suisse advanced by 3.9 percent and UBS climbed by 3.2 percent. Julius Baer also finished higher by 1.0 percent.
The defensive heavyweights also turned in positive performances. Novartis and Roche both increased by 1.6 percent on the day. Shares of Nestle also gained 1.1 percent.
Shares of Sonova sank by 9.9 percent after the hearing aid manufacturer reported results for the full year. The results fell short of expectations and analysts were disappointed by the company's forecast.
by RTT Staff Writer
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