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The Swiss Stock Market Climbed On Strength Of Defensive Heavyweights

The Swiss stock market posted gains in early trade Wednesday, before settling into a sideways trend. The market ended the day with a modest increase, thanks in large part to the solid performance of the defensive heavyweights.

The Swiss Market Index increased by 0.51 percent Wednesday and finished at 8,960.13. The Swiss Leader Index climbed 0.35 percent and the Swiss Performance Index added 0.44 percent.

Among the index heavyweights, Roche climbed 1 percent, Nestle gained 0.8 percent and Novartis added 0.6 percent.

ABB was among the top gainers of the session, with an increase of 1.3 percent. Lonza advanced 1 percent and Sika rose 0.9 percent. Geberit also finished higher by 0.8 percent.

The bank stocks turned in a weak performance Wednesday. Julius Baer dropped 2.1 percent, Credit Suisse declined 0.4 percent and UBS fell 0.3 percent.

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