The Swiss stock market ended Thursday's trading session to the plus side. The market trading in the red early Thursday morning, but recovered as the session progressed. The market reaction to the ECB decision to leave the interest rate at 1.0% and the announcement from Greece was rather subdued.
The long awaited announcement finally arrived Thursday, that Greece had to adopt new austerity measures. The move will likely get the country the funds needed to allow it to avert a potentially catastrophic default in March.
The Swiss Market Index climbed by 0.22% Thursday and finished at 6,169. The Swiss Leader Index rose by 0.12% and the Swiss Performance Index gained 0.29%.
Shares of Nobel Biocare plummeted by 16.3% Thursday. The dental implant manufacturer's numbers failed to meet the expectations of analysts.
The defensive heavyweights all finished to the upside Thursday. Roche led the way, with a gain of 0.7%. Novartis climbed by 0.2% and Nestle increased by 0.3%.
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