The Swiss Stock Market Climbed To A New Multi-Year High

(RTTNews) - The Swiss stock market climbed again Tuesday, adding to the gains of the previous session. The market ended the session at its highest level since June of 2007. Sika and Geberit were in focus after the companies reported sales results.

Investor sentiment was influenced by the strong performance of the U.S. stock markets. The earnings reporting season got off to a positive start late Monday, after Alcoa reported better than expected results. Continued hopes for further stimulus measures by the European Central Bank also had an impact.

The Swiss Market Index increased by 1.45 percent Tuesday and finished at 9,285.63. The SMI reached an intraday high of 9,292.44. The Swiss Leader Index climbed by 1.42 percent Tuesday and the Swiss Performance Index gained 1.40 percent.

Shares of Sika surged by 4.6 percent. The specialty chemicals firm said its consolidated net sales for the fourth quarter rose 5.1 percent, despite a very strong prior-year period growth of 17.8 percent. Sika expects an above-average increase in net profit for the full year.

Geberit fell by 0.4 percent, after its fourth quarter sales fell short of expectations. However, the stock had just reached a new record high during the previous trading session.

The index heavyweights provided support to the overall market. Roche increased by 1.3 percent, while Novartis and Nestle both rose by 1.6 percent. UBS advanced by 2.9 percent and Swisscom added 2.7 percent. Julius Baer climbed by 2.6 percent and Baloise rose by 2.4 percent.