The Swiss Stock Market Rebounded After Weak Start To The Week

(RTTNews) - The Swiss stock market ended Tuesday's session with a significant increase, bouncing back from yesterday's weak performance. The market got off to a weak start Tuesday, but quickly turned positive and built on those gains for the rest of the session.

Disappointing manufacturing data from China sparked speculation that it will announce further stimulus measures. The Swiss market received a further boost in the afternoon, after economic data from the U.S. came in better than expected.

The Swiss Market Index increased 1.51 percent Tuesday and finished at 7,962.22. The Swiss Leader Index climbed 1.65 percent and the Swiss Performance Index added 1.51 percent.

Swiss Life was the top gainer of the session, with an increase of 5.3 percent. The life insurance company reported a larger than expected increase in its annual profit. Swiss Life also announced a dividend increase.

The rest of the insurance stocks also finished higher. Zurich Insurance climbed 2.0 percent, Baloise added 1.6 percent and Swiss Re rose 1.5 percent. Among the banks, Julius Baer advanced 3.7 percent, Credit Suisse gained 3.3 percent and UBS closed up by 2.4 percent.

Kuehne + Nagel gained 2.3 percent ahead of its financial report tomorrow. Shares of Adecco also finished up by 2.2 percent. The recruiter will present its results next week.

The index heavyweights all finished in the green Tuesday. Nestle lead the way with an increase of 2.1 percent. Roche climbed 1 percent and Novartis added 0.9 percent.