The Swiss Stock Market Finished With A Modest Increase

(RTTNews) - The Swiss stock market ended Thursday's session with a small gain. The market was positive for the majority of the day, although the mood among investors was cautious. Shares of Credit Suisse were in focus on news that it plans to raise capital.

The European Central Bank reaffirmed its bond-buying program in the minutes from its last meeting. The Bank of England also decided by an 8-to-1 vote to maintain its key interest rate. Investors will be watching for the release of the minutes from the most recent Federal Reserve meeting later today.

The Swiss Market Index climbed 0.41 percent Thursday and finished at 8,674.17. The Swiss Leader Index rose 0.35 percent and the Swiss Performance Index added 0.45 percent.

Shares of Credit Suisse dropped 3.6 percent Thursday. A report by the Financial Times stated that the bank is preparing to raise significant" capital in order to fund a restructuring. UBS decreased 1.0 percent and Julius Baer fell 0.7 percent.

Syngenta declined 1.1 percent, after Baader Helvea downgraded its rating on the stock to "Hold" from "Buy."

The index heavyweights all finished in the green. Nestle finished with a gain of 0.5 percent. Roche climbed 1.4 percent and Novartis added 0.1 percent. Actelion also closed higher by 0.4 percent.

Insurance companies also fared well today. Zurich Insurance gained 3.0 percent. Swiss Re and Baloise both increased 0.8 percent and Swiss Life rose 0.6 percent.

Cyclical stocks were also among the gainers. Lonza advanced 2.2 percent, Transocean rose 2.0 percent and Sika added 1.5 percent.