The Swiss Stock Market Climbed Ahead Of Fed Minutes

(RTTNews) - The Swiss stock market got off to a weak start Wednesday, but ended the day in positive territory. Early losses were attributed to profit taking, following Tuesday's strong gains. Concerns over terrorism also had an impact on investor sentiment, as French police carried out a raid in search of the mastermind of Friday's attack in Paris.

The Federal Reserve is slated to release the minutes from its most recent policy meeting later today. The minutes are likely to be closely analyzed for hints regarding whether the Fed will raise interest rates next month.

The Swiss Market Index climbed 0.43 percent Wednesday and finished at 8,990.96. The market bounced back from an early low of 8,904. The Swiss Leader Index rose 0.34 percent and the Swiss Performance Index gained 0.20 percent.

Syngenta gained 3.3 percent Wednesday on continued takeover speculation. U.S. rival Monsanto announced yesterday that it has begun internal discussions on whether it should make another offer to acquire Syngenta, following the offer from ChemChina.

Notable gains were also posted by Sonova, which rose 1.7 percent. Aryzta advanced 2.5 percent and Transocean added 2.6 percent.

The luxury good companies turned in a mixed performance. Richemont fell 0.6 percent, while Swatch climbed 0.6 percent. The stocks struggled due to worries over travel, following the terrorist attacks in Paris.

LafargeHolcim decreased 0.3 percent after a rating cut by Bank Vontobel and a price target reduction at Bernstein. Sika weakened by 0.9 percent and Lonza lost 0.8 percent.

The index heavyweights all finished with modest gains. Novartis rose 0.06 percent and Roche added 0.04 percent. Shares of Nestle also finished higher by 0.9 percent.