The Swiss stock market closed in the green again Wednesday, extending its gains from the previous 2 sessions. The defensive alignment of the SMI was again the source of its strength. Investors have been reluctant to enter risky investments, ahead of the second round of Greek elections which will take place this weekend.
The decline in Eurozone industrial production pressured the markets this morning. The drop in the U.S. producer price index and the decline in U.S. retail sales added to the negative mood as the day progressed.
The Swiss Market Index climbed by 0.42 percent and finished at 5,944.69. The Swiss Leader Index rose by 0.12 percent and the Swiss Performance Index gained 0.45 percent.
The defensive heavyweights all finished to the upside again Wednesday. Shares of Nestle climbed by 0.7 percent. Novartis gained 1.1 percent and Roche increased by 1.0 percent.
Financial stocks also finished with modest gains Wednesday. UBS rose by 0.6 percent and Credit Suisse climbed by 0.3 percent. Baloise gained 0.6 percent and Swiss Re increased by 0.2 percent.
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