Swiss Stocks Follow Neighboring Markets Higher

(RTTNews) - Swiss stocks posted notable gains on Monday, boosted by upbeat German business sentiment figures.

Markets moved higher in afternoon trade, following US and European equities well into positive territory.

The Swiss Market Index (SMI) rose 0.64 percent to 8,485.48 points. The capped Swiss Leader Index (SLI) gained 0.61 percent to 1,298 points and the broader Swiss Performance Index (SPI) 0.63 percent to 8,106.84. Of the 30 major titles all closed in the black except for two.

Kuehne + Nagel rose 2 percent on hopes for a dividend hike. The logistics company will present the annual results in a week.

Transocean added 1.4 percent and Julius Baer gained 1.2 percent.

Specialty chemicals group Clariant after Vontobel raised its price target.

Credit Suisse is paying $196 million and admitting wrongdoing to settle civil charges it violated federal securities laws in the U.S. Shares were up 0.5 percent.

Bellevue Group lost 11.2 percent after reporting a slightly higher net profit.