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The Swiss Stock Market Is Approaching The 9,000 Point Level

The Swiss stock market ended the first session of the new trading week with a modest increase, extending its gains from the previous week. The increase has brought the market back to within 30 points of the 9,000 point level.

The market got off to a positive start thanks to the stronger than expected U.S. jobs report and the rally it sparked on Wall Street at the end of the prior trading week. However, the market had difficulty extending its gains due to a lack of catalysts and a lackluster open on Wall Street in the afternoon.

The Swiss Market Index increased by 0.44 percent Monday and finished at 8,970.74. The Swiss Leader Index climbed 0.41 percent and the Swiss Performance Index added 0.36 percent.

Bakery business Aryzta tumbled 2.3 percent after widening its first-half net loss.

Schindler weakened by 1.5 percent, ABB declined 0.6 percent and Sika fell 0.3 percent. Kühne + Nagel and Adecco finished lower by 0.2 percent and 0.1 percent respectively.

Financial stocks turned in a positive performance Monday. UBS climbed 1.2 percent, Julius Baer gained 1.0 percent and Credit Suisse rose 0.9 percent.

Swiss Life increased 0.6 percent and Zurich Insurance added 0.8 percent.

The index heavyweights all finished with small gains. Roche and Novartis both advanced 0.4 percent and Nestlé rose 0.3 percent.

Travel retailer Dufry climbed 1.6 percent ahead of its financial report later this week.

by RTTNews Staff Writer

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