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Swiss Market Ends Higher

The Switzerland stock market ended modestly higher on Tuesday, in line with the trend seen across Europe, amid renewed optimism about the U.S. and China striking a trade deal sometime in the foreseeable future.

The benchmark SMI ended up 40.90 points, or 0.44%, at 9,408.48, after advancing to a high of 9,429.41 in the session.

On Monday, the index ended down 109.65 points, or 1.16%, at 9,363.18, after falling to a low of 9,319.99 intraday.

LafargeHolcim rose 3.2%. Adecco gained nearly 2% and Lonza Group ended 1.3% up.

Novartis, Swiss Re, Swatch Group, Sika, SGS, Richemont, Zurich Insurance and Credit Suisse ended with modest gains.

Roche Holding shares ended flat. The drugmaker said it is pushing back its $4.3 billion takeover offer for Spark Therapeutics for a third time in recent months, due to a delay in U.S. regulatory review of the deal.

Dufry ended nearly 2% down despite the company posting a turnover of 1.9 billion Swiss francs in the first quarter. Gross margin improved to 60.3%, the company said.

In economic news, producer prices in Switzerland increased to 102.20 Index Points in April from 102.16 Index Points in March of 2019.

Year-on-year, producer and import prices in Switzerland fell 0.6% in April 2019, following a 0.2% drop in the previous month and compared to market expectations of a 0.4% decline. On a monthly basis, producer and import prices were flat, missing market expectations of a 0.2% gain.

Among other major markets in Europe, France ended sharply higher, with its benchmark CAC 40 rising 1.5%. The U.K.'s FTSE 100 and Germany's DAX ended higher by 1.09% and 0.97%, respectively. The pan European Stoxx ended 1.01% up.

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