The Swiss stock market ended Thursday's session in the green. The market began the day with a positive open, supported by positive signs from the Chinese economy. The market then turned negative, but managed to climb back into positive territory late in the session, with some support from the performance of the U.S. markets.
There was little major news that could sway the direction of the market on Thursday. There were several economic reports released by the U.S., but they had little impact on investor sentiment.
The Swiss Market Index rose by 0.10 percent Thursday and finished at 6,518.43. The Swiss Leader Index increased 0.42 percent and the Swiss Performance Index added 0.15 percent.
Zurich Insurance gained 1.24 percent on Thursday. The company reported a 19 percent drop in its second-quarter profit, but the decline was not as bad as analysts had expected.
The rest of the insurance stocks also finished in the green Thursday. Swiss Life premiums climbed by 2.3 percent and Swiss Re gained 0.5 percent. Bank stocks were also among the positive performers. UBS rose by 1.0 percent and Credit Suisse finished higher by 1.6 percent.
by RTT Staff Writer
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