Plus   Neg

Swiss Market Moves Higher In Second Straight Session

The Swiss stock market climbed higher on Tuesday, extending Monday's gains following last week's sell-off.

The SMI opened sharply lower but battled back as the session progressed, buoyed by news that U.S. Trade Representative Robert Lighthizer announced a delay in imposing new tariffs on certain Chinese products.

The lower open was fueled by concerns over the political unrest in Hong Kong and electoral uncertainty in Argentina and in Italy.

The SMI gained 26.22 points or 0.27 percent to finish at 9,786.24 after trading between 9,641.25 and 9,827.73.

On Monday, the market had advanced 10.10 points or 0.1 percent to end at 9,760.02.

Among the actives, ABB surged 1.44 percent, while Credit Suisse soared 1.04 percent, Roche Holding jumped 0.77 percent, Lafarge Holcim climbed 0.66 percent, UBS Group lost 0.48 percent, Novartis fell 0.37 percent and Nestle eased 0.11 percent.

On the corporate front, insurer Swiss Life Group (SZLMY.PK, SLHN.VX) reported Tuesday that its first-half net profit attributable to equity holders increased to 615 million Swiss francs from 558 million francs last year. Earnings per share were 18.42 francs, up from 16.35 francs a year ago.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT