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The Swiss Stock Market Climbed Back Above 9,000 Points

The Swiss stock market ended the first session of the new trading week with a solid gain. The market got off to a strong start following the positive performance of the Asian markets and the clear victory for French President Emmanuel Macron's party in Sunday's election.

However, the market pared its early gains in the first half of the session. The positive open on Wall Street helped to push the market higher in the afternoon, but it still fell short of its intraday high. The market did manage to close the session above the 9,000 point level.

The Swiss Market Index increased by 0.75 percent Monday and finished at 9,030.30. The Swiss Leader Index climbed 0.85 percent and the Swiss Performance Index added 0.72 percent.

Credit Suisse climbed 3.4 percent. Several brokers raised their rating on the stock after the successful completion of its capital increase. UBS also rose 0.4 percent, while Julius Baer fell 0.4 percent.

Swatch increased by 2.3 percent and Dufry gained 1.8 percent. Swiss Re climbed 1.4 percent, Givaudan by 1.3 percent and Adecco added 0.9 percent.

Index heavyweight Novartis rose 1.4 percent. The drug-maker has received European approval for a blood cancer treatment known as Rixathon. Roche added 0.5 percent, while Nestlé remained unchanged.

In the broad market, Idorsia jumped another 5.9 percent. The stock turned in a strong debut performance at the end of the previous trading week.

by RTTNews Staff Writer

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