The Swiss stock market ended Wednesday's trading session with a gain, bouncing back from the weakness of the previous session. The uncertainty created by the early results of the Italian parliamentary elections was responsible for the decline on Tuesday. The market was able to rebound today on news out of the United States.
U.S. pending home sales and durable goods orders excluding transportation goods both increased more than expected. The release of the positive economic data helped the Swiss market to climb in the afternoon. Investors continued to watch Federal Reserve Chairman Ben Bernanke during his second day of testimony Wednesday, this time before the House Financial Services Committee.
The Swiss Market Index increased by 0.47 percent Wednesday and finished at 7,484.99. The Swiss Leader Index climbed by 0.86 and the Swiss Performance Index added 0.51 percent.
Swiss Life was the top performer Wednesday, with a gain of 8.7 percent, after reporting better than expected earnings. The company also confirmed it would propose a dividend of 4.50 Swiss francs for the year.
Holcim ended the session higher by 3.2 percent, despite weakness in early trade. The company reported a narrower loss for the fourth quarter.
by RTT Staff Writer
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