BRUSSELS (dpa-AFX) - The Swiss stock market ended the first trading session of the new week with a small increase. After struggling in early trade, the market crossed definitively into positive territory in the afternoon. A weak performance from index heavyweight Nestlé hampered the overall market.
Investors remain hopeful that U.S. tax reform will finally come to fruition. Traders are also looking forward to the release of the European Central Bank's monetary policy decision on Thursday.
The Swiss Market Index increased by 0.12 percent Monday and finished at 9,248.49. The Swiss Leader Index climbed 0.30 percent and the Swiss Performance Index added 0.16 percent.
Sonova was among the top performing stocks of the session, with an increase of 1.7 percent. Kuehne + Nagel also gained 1.6 percent. Aryzta, Geberit, Givaudan, Dufry, Clariant and Vifor Pharma all finished higher by over 1 percent.
Schindler and Logitech advanced by 1.2 percent each. Index heavyweight Novartis also added 0.8 percent. The company has received a breakthrough designation from the U.S. FDA for the combination therapy of Tafinlar and Mekinist.
Food giant Nestlé declined 0.8 percent. Liberum confirmed its 'Sell' rating on the stock.
Swatch weakened by 0.7 percent, while rival Richemont climbed 0.9 percent.
Copyright RTT News/dpa-AFX