The Swiss Stock Market Extended Yesterday's Gains

(RTTNews) - The Swiss stock market ended Tuesday's session in the green, extending its gains from the previous trading day. The positive performance of the Chinese stock market provided a boost to investor sentiment. Strong German trade data also contributed to the positive mood among investors.

However, the market's early momentum began to fade in the afternoon. The gains in the pharmaceutical heavyweights began to fade and the positive performance of the U.S. equity markets failed to spark further advances in late trade. There was no U.S. economic data released and investors are awaiting next week's Federal Reserve announcement.

The Swiss Market Index climbed by 0.64 percent Tuesday and finished at 8,760.95. The Swiss Leader Index rose by 1.01 percent and the Swiss Performance Index added 0.71 percent.

The largest percentage gain was turned in by ABB, which increased by 3.2 percent. According to reports in Swedish media, ABB's majority shareholder, Cevian Capital wants to split the company into an automation group and a power supply group.

Cyclicals were among the gainers Tuesday. Richemont increased by 1.8 percent and Clariant added 1.9 percent. Lonza advanced by 1.5 percent, while SGS and Adecco climbed by 1.3 percent each. Transocean also rose 3.0 percent.

Financial stocks also turned in a positive performance. Credit Suisse gained 2.7 percent and UBS added 1.4 percent. Among the insurers, Swiss Life rose by 1.7 percent and climbed by Zurich Insurance 1.1 percent.

Among the index heavyweights, Nestle and Novartis both finished up by 0.1 percent each, but Roche dipped by 0.1 percent. Fellow pharmaceutical company Actelion ended the session with a gain of 0.2 percent.

LafargeHolcim was among the weakest performing stocks Tuesday. The stock fell by 3.0 percent after it began trading ex-dividend.

Chipmaker AMS surged by 7.6 percent after Barclays began coverage with an "Overweight" rating. Partners Group climbed by 5.7 percent, after its results for the first half of the year surpassed expectations.