The Swiss Stock Market Finished Solidly In The Green

(RTTNews) - The Swiss stock market ended Tuesday's session firmly in positive territory. The market was up modestly in early trade, but accelerated higher in the afternoon. The late rally was driven by the positive performance of the U.S. markets.

The mood among investors remains positive, despite low volume. The prospect of continued low interest rates has investors in an upbeat mood. Bank of England policymaker Ian McCafferty hinted at additional rate cuts and expansion of the quantitative easing by the central bank, if the economic downturn worsens further.

The Swiss Market Index increased 0.79 percent Tuesday and finished at 8,229.42. The Swiss Leader Index climbed 0.86 percent and the Swiss Performance Index added 0.77 percent.

The top gainer of the session was Dufry, with an increase of 2.7 percent. Schindler also climbed 2.0 percent after Kepler Cheuvreux increased its price target on the stock and confirmed its "Buy" rating.

Insurance stocks also turned in a solid performance Tuesday. Zurich Insurance climbed 1.7 percent Swiss Life added 1.6 percent. Baloise advanced 1.4 percent and Swiss Re rose 1.3 percent. Swiss Re received a boost from the better than expected numbers reported by competitor Munich Re.

LafargeHolcim extended its recent gains, climbing another 1.9 percent. Shares of Adecco also advanced 1.6 percent.

Credit Suisse climbed 1.7 percent. HSBC confirmed its "Buy" rating on the stock, but lowered its price target. Shares of UBS also added 0.5 percent.

The index heavyweights all finished in the green Tuesday. Roche finished higher by 0.7 percent, while Novartis and Nestlé both added 0.6 percent each.

Galenica sank 6.1 percent after it reported half year results.