The Swiss Stock Market Added To Yesterday's Gains

(RTTNews) - The Swiss stock market ended Wednesday's session in the green, adding to the modest gains of the previous session. Trading activity remained volatile at mid-week. The market reached both its session high and session low in the first few hours of trade, but settled into a sideways trend in the afternoon.

Investors kept a watchful eye on Federal Reserve Chair Janet Yellen's testimony before Congress today. However, Yellen made no definite statements on monetary policy. A number of other Fed officials are slated to speak today and traders will be watching their comments for any clues as to when the central bank may decide to hike interest rates.

The Swiss Market Index increased 0.55 percent Wednesday and finished at 8,220.07. The Swiss Leader Index climbed 0.66 percent and the Swiss Performance Index rose 0.53 percent.

Dufry was the top gainer of the session, with an increase of 3.3 percent. The stock benefitted from a guidance increase by rival travel company TUI.

LafargeHolcim advanced 1.7 percent, ending its recent losing streak. Adecco and Clariant also both gained 1.7 percent. Richemont finished higher by 1.5 percent and Swatch added 1.1 percent.

European banks fared much better today than in recent days. The sector has been under pressure due to concerns over Germany's Deutsche Bank. Shares of UBS rose 0.9 percent Wednesday and Julius Baer rose 0.2 percent. However, Credit Suisse ended the day unchanged.

The index heavyweights all finished with modest gains. Novartis climbed 0.6 percent and Roche gained 0.5 percent. Shares of Nestlé also finished higher by 0.1 percent.