The Swiss Stock Market Climbed On Pharma Strength

(RTTNews) - The Swiss stock market ended the first session of the new trading week in positive territory. The strong performance of the pharmaceutical heavyweights and of UBS provided a boost to the overall market. The gains were constrained by weakness in crude oil prices and the strength of the Swiss franc.

The trading week is expected to be relatively subdued ahead of the Easter holiday. The Swiss stock market will be closed at the end of the week for Good Friday and will also be closed at the start of next week for Easter Monday.

The Swiss Market Index increased 0.46 percent Monday and finished at 7,849.57. The Swiss Leader Index climbed 0.20 percent and the Swiss Performance Index rose 0.38 percent.

Index heavyweights Roche increased 1.1 percent and Novartis gained 1.9 percent Monday. Shares of fellow pharmaceutical company Actelion rose by 1.8 percent.

UBS climbed 1.2 percent Monday, but Credit Suisse dipped 0.1 percent. Julius Baer also surrendered 0.9 percent.

Swiss Life rose by 1.2 percent, as it took its place in the SMI. The stock replaces Transocean, which will delist from the Swiss exchange at the end of the month. Shares of the oil driller will then only be traded in the United States.

Aryzta advanced 2.7 percent Monday, but the stock had plunged 22 percent during the previous trading week.

Swatch declined 2.3 percent and Richemont surrendered 1.8 percent. The latest data on Swiss watch exports will be reported on Tuesday.