The Swiss stock market closed in the green again Tuesday. The market turned in its fifth day of gains in six sessions and is now up about 8.4 percent from the lows of the year, which was set in early June.
Tuesday's gains were driven by hopes for a rate cut by the European Central Bank. The bank will announce its decision on interest rates on Thursday. The better than expected U.S. factory orders report also provided support to the market.
The Swiss Market Index climbed by 1.39 percent Tuesday and finished at 6,194.08. The Swiss Leader Index gained 1.59 percent and the Swiss Performance Index rose by 1.39 percent.
With an increase in the risk appetite of investors, cyclical stocks were among the session's best performers. Lonza climbed by 4.8 percent, Sonova added 3.6 percent and Adecco finished with a gain of 2.9 percent.
The index heavyweights also provided support to the overall market. Shares of Nestle increased by 1.8 percent. Novartis climbed by 0.8 percent and Roche gained 0.7 percent.
by RTT Staff Writer
For comments and feedback: email@example.com