Zurich Re Leads Swiss Market Higher

(RTTNews) - Swiss stocks followed European markets higher Monday, led by insurer Zurich.

At last check, the Swiss Market Index of 30 blue chip stocks was up 103.29 points at 9,511.56, holding near yearly highs.

Zurich Re may cut hundreds of millions of pounds from prospective takeover target RSA's annual reinsurance spending, the Financial Times reported. The stock was up 1.7 percent.

Dottikon CEO Markus Blocher told the SonntagsZeitung news that the chemical company is doing well despite the strong Swiss franc. Shares rose 4.7 percent.

Sulzer said it was cutting manufacturing capacity at its pumps equipment division in Brazil, the United States and China. The stock added 0.2 percent.