The Swiss stock market finished to the upside Tuesday. The mood among investors was generally positive on the hope that Greece will remain in the eurozone, as well as speculation about the economic stimulus measures in China.
Concerns over Spanish banks persisted on Tuesday, but failed overcome the positive mood. Even the weaker than expected U.S. consumer confidence result in the afternoon was unable to turn the mood negative.
The Swiss Market Index rose by 0.84 percent Tuesday and finished at 5,914.73. The Swiss Leader Index increased by 1.12 percent and the Swiss Performance Index gained 0.88 percent.
Luxury goods companies were among the best performers on Tuesday, largely due to hopes surrounding Greece and China. Swatch climbed by 5.0 percent and Richemont gained 4.2 percent. Also among the positives, Syngenta climbed by 3.6 percent, Nobel Biocare rose by 3.0 percent and Adecco improved by 2.5 percent.
The index heavyweights also finished to the upside Tuesday. Nestle rose by 0.5 percent, while Novartis and Roche gained 0.6 percent and 0.1 percent respectively.
by RTT Staff Writer
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