Swiss Stocks Eke Out Modest Gains

(RTTNews) - Swiss shares clawed higher Monday, outperforming other European markets thanks to solid gains from Nestle, Credit Suisse and Novartis.

The Swiss Market Index (SMI) was up 0.40 percent to 8,283.32, trimming steep recent losses.

Geberit shares rose more than one percent as it lines up a bid from toilet maker Sanitec.

Defensives such as Swisscom found buyers, but economically sensitive stocks like Richemont and Swatch turned lower.

Transocean shares fell 5.1 percent on a downgrade from Cowen.

Helvetia said it will finalize its takeover of Nationale Suisse today. Shares of Helevetia were down 1.2 percent.