The Swiss Stock Market Snapped Recent Losing Streak

(RTTNews) - The Swiss stock market ended Thursday's session in the green, thanks to a surge in afternoon trading, snapping a three session losing streak. Investors were focused on the European Central Bank announcement, as well as the OPEC meeting in Vienna. The OPEC meeting failed to result in an agreement on a cap on production.

The ECB left interest rates unchanged for a second policy session in a row on Thursday. The central bank also announced that it will start making purchases under the corporate sector purchase programme, or CSPP, on June 8. Investors will now shift their attention to the release of the U.S. jobs report for May on Friday. Private sector employment in the U.S. increased roughly in line with estimates today.

The Swiss Market Index increased 0.25 percent Thursday and finished at 8,205.82. The SMI reached an intraday high of 8,223 points and a low of 8,173 points. The Swiss Leader Index rose 0.05 percent and the Swiss Performance Index gained 0.17 percent.

The index heavyweights all finished in positive territory Thursday. Novartis climbed 1.6 percent after it received EU approval for two additional indications for its cancer drug Afinitor. Roche increased 0.4 percent and Nestle closed up by 0.1 percent.

Actelion advanced 1.1 percent Swisscom rose 0.9 percent. Credit Suisse increased 0.8 percent and LafargeHolcim added 0.8 percent. Swatch rebounded 0.5 percent and Richemont climbed 0.8 percent.

Despite initial gains, ABB ended the session lower by 0.2 percent. There were reports that ABB could be interested in purchasing German robot manufacturer Kuka.

Baloise declined 2.4 percent and Swiss Life lost 1.8 percent. Exane BNP has an "underperform" rating on both stocks. Swiss Re decreased 1.0 percent, UBS surrendered 1.3 percent and Julius Baer fell 1.0 percent.

In the broad market, Evolva surged 12.5 percent. The U.S. FDA issed a "No objection letter" for the sweetener Ever Sweet.