The Swiss stock market closed in the green Thursday and closed above the 6,500 point mark for the first time since May 2011. The market received a boost from the positive performance of Nestle. The food giant is one the heaviest weighted stocks in the index.
Investors speculated that further stimulating measures may be implemented by the Chinese government, after China reported a significant decline in inflation. China's retail sales and industrial production results also came in below expectations.
The Swiss Market Index climbed by 0.73 percent Thursday and finished at 6,505.29. The Swiss Leader Index rose by 0.42 percent and the Swiss Performance Index gained 0.70 percent.
Shares of Nestle increased by 2.4 percent Thursday, after the company's profit in the first half of the year grew by nearly 9 percent. The results were viewed very positively and analysts praised the resilience of the company and its constant and clear growth strategy.
However, Swiss Re declined by 2.3 percent. The company's earnings report was viewed less favorably, despite reporting a profit, while analysts had expected a loss. An analyst at Kepler stated that the result was inflated by reserve resolutions.
by RTT Staff Writer
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