Swiss Stocks Rise Along With European Markets

(RTTNews) - Swiss stocks rose in tandem with other European markets on Tuesday, extending strong recent gains amid hopes for a sustained global economic recovery.

Easing geopolitical concerns also helped, as Egyptian state media has announced a cease-fire between Hamas and Israel to halt the seven-week Gaza war.

The Swiss Market Index rose 0.72 percent to 8,673.29, led by gains among big banks Credit Suisse and UBS.

Novartis gained 0.6 percent after its CEO downplayed the threat of generic competition.

Swisscom said provisional results showed it had upped its stake in PubliGroup to 98.3 percent. Shares rose fractionally.

Repower said group profit fell 86 percent year on year. The stock was flat.