Swiss Shares Hold Recent Gains

(RTTNews) - Swiss stocks were virtually unchanged on Tuesday despite positive economic data from the U.S. and Europe.

The Swiss market struggled after outperforming other European markets on Monday, as manufacturing data from both sides of the Atlantic signaled robust factory activity.

The Swiss Market Index rose 3 points to 8,457.27.

UBS said on Tuesday that board member Rainer-Marc Frey will not stand for reelection at the next shareholders meeting. Shares rose 2 percent.

Actelion led SMI-listed stocks with a 3 percent advance.

Schaffner said it acquired three subsidiaries of U.S. special transformers manufacturer Transformer Holding LLC f for around 9 million Swiss francs ($10.15 million). Schaffner rose 0.5 percent.

Myriad said it has seen a 24 percent increase in its MSNGR chat service. Shares rose 1.4 percent.

Novartis was down slightly as traders took profits after recent gains on positive drug news.

Flughafen Zürich rose 3 percent on an upgrade by Goldman Sachs.