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The Swiss Stock Market Rose Above 9,300 Points

The Swiss stock market got off to a positive start Thursday, but slipped into negative territory around midday. The market climbed back into the green in the afternoon and briefly rose above the 9,300 point level for the first time since the summer of 2015.

Investors were encouraged by the positive Eurozone industrial output, which expanded at the fastest pace in nine months in August. However, traders continue to grapple with the uncertainty surrounding Catalonia. A pair of U.S. economic reports had little impact on the Swiss Market in the afternoon.

The Swiss Market Index increased by 0.35 percent Thursday and finished at 9,297.34. The Swiss Leader Index climbed 0.44 percent and the Swiss Performance Index added 0.38 percent.

Sika and Lonza both advanced by 1.3 percent Thursday. Citigroup increase its price target on shares of Lonza, but maintained its "Neutral" rating.

Index heavyweight Nestlé gained 0.8 percent after it announced a partnership in the healthcare sector with U.S. company Codexis. Novartis rose 0.1 percent, while Roche fell 0.4 percent.

UBS increased 0.8 percent and Credit Suisse added 0.1 percent. Julius Baer climbed 1.1 percent and Partners Group rose 0.9 percent.

Swiss Re advanced 0.9 percent, Swiss Life gained 0.6 percent and Zurich finished higher by 0.5 percent.

by RTTNews Staff Writer

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