The Swiss Stock Market Climbed On Hopes For Greek Solution

(RTTNews) - The Swiss stock market got off to a positive start Monday morning, before slipping into negative territory. The market bounced back on optimism for a solution to the Greek debt situation and the positive opening of the U.S. markets.

After last week's meeting in Latvia failed to yield an agreement, the Greek government has reportedly made adjustments to its team that is negotiating with international creditors. The country's alternate foreign minister, Euclid Tsakalotos, will now be leading the negotiating team. The move would reduce the influence of Greek finance minister Yanis Varoufakis on the negotiations.

The Swiss Market Index climbed by 0.51 percent Monday and finished at 9,349.18. The Swiss Leader Index rose by 0.32 percent and the Swiss Performance Index gained 0.46 percent.

ABB was one of the top gainers at the start of the trading week, rising by 1.8 percent. The company is expected to report quarterly results on Wednesday. Swatch climbed by 1.5 percent and Richemont added 1.3 percent. Holcim also gained 0.9 percent, ahead of its financial report on Thursday.

The index heavyweights all finished in the green Monday. Roche increased by 0.8 percent and Novartis added 0.6 percent. Shares of Nestle finished higher by 0.7 percent. Nestlé subsidiary Galderma agreed to purchase parts of Innéov Group after the close Friday. Meanwhile, Novartis reported a successful phase III trial of Arzerra for the treatment of leukemia.

Credit Suisse declined by 0.8 percent, while UBS fell by 0.3 percent. However, Julius Baer finished with a gain of 0.3 percent.

Clariant pulled back by 1.0 percent, ahead of its earnings report on Wednesday. Geberit also decreased by 0.6 percent, ahead of its quarterly report tomorrow.