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The Swiss Stock Market Regained Some Lost Ground

The Swiss stock market ended Wednesday's session with a significant increase. After a positive start to the day, the market advanced further after the positive open on Wall Street. The market briefly re-crossed the 9,000 point level, but ended the day just shy of the mark.

The rebound comes following the recent sell-off in global equity markets. Investors remain in a cautious mood, as they question whether markets could potentially drop further. Volatility in the markets remains at a high level.

The Swiss Market Index increased by 1.57 percent Wednesday and finished at 8,975.01. The Swiss Leader Index climbed 1.69 percent and the Swiss Performance Index added 1.70 percent.

Swisscom jumped 3.1 percent after investors reacted positively to its full year report. The results were in line with expectations. The telecom company also announced a tightened cost-cutting program.

Financial stocks recovered some of the losses from the previous session. PartnersGroup advanced 3.0 percent and Julius Baer gained 2.8 percent. Credit Suisse climbed 2.2 percent and UBS added 2.1 percent.

Zurich Insurance increased 2.4 percent and Baloise added 2.2 percent.

Watch manufacturer Swatch climbed 2.5 percent and pharmaceutical company Vifor gained 2.3 percent. Schindler advanced 2.2 percent and ABB rose 1.9 percent.

The index heavyweights all finished in the green. Novartis and Nestle gained 1.5 percent each and Roche rose 1.2 percent.

by RTTNews Staff Writer

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