The Swiss stock market finished Tuesday's trading session with significant gains. The positive mood was attributed to the hope for a rapid formation of a government in Greece and the possibility that the U.S. Federal Reserve could announce further economic stimulus on Wednesday.
Despite the positive outcome from Sunday's second round of elections in Greece, concerns over uncertainty in the Eurozone remain. The situation in Spain continues to worry investors, especially since the country's government bond yields have remained high.
The Swiss Market Index climbed by 1.61 percent Tuesday and closed at 6,034.13. The Swiss Leader Index rose by 1.76 percent and the Swiss Performance Index gained 1.52 percent.
Index heavyweight Roche was among the top gainers on Tuesday, with an increase of 3.4 percent. Lonza climbed by 4.3 percent and Syngenta gained 2.7 percent. Clariant finished higher by 3.6 percent and Novartis rose by 1.4 percent.
Financial stocks also turned in a strong performance Tuesday. Julius Baer jumped by 2.2 percent on reports that it is in discussions with Bank of America over its international wealth management business outside of the United States. Credit Suisse rose by 3.3 percent and UBS gained 1.5 percent.
by RTT Staff Writer
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