BRUSSELS (dpa-AFX) - The Swiss stock market ended the first session of the new trading week with a significant increase. The sharp increase in shares of index heavyweight Roche helped to propel the market higher.
The political uncertainty in Germany did little to impact the Swiss market Monday. Talks to form a coalition government failed over the weekend, after the Free Democratic Party had pulled out of negotiations with Angela Merkel's conservative bloc.
The Swiss Market Index increased by 1.26 percent Monday and finished at 9,299.61. The Swiss Leader Index climbed 0.98 percent and the Swiss Performance Index added 1.15 percent.
Roche jumped 5.9 percent after the drug-maker announced a pair of positive drug trial results. Both the IMpower150 and HAVEN3 programs achieved their goals.
Nestlé also finished higher by 0.4 percent, while Novartis slid 0.2 percent. The pharmaceutical company received approval for Tasigna in the EU.
Julius Baer advanced 2.5 percent, after the company posted better than expected results. Credit Suisse rose 0.4 percent, while UBS dipped 0.2 percent.
Swatch increased 1.7 percent and rival Richemont added 1.3 percent. Sika climbed 2.6 percent and Aryzta gained 2.5 percent. Kuehne + Nagel rose 1.5 percent and Sonova added 1.4 percent.
Insurance stocks were under pressure at the start of the new trading week. Baloise weakned by 1.4 percent and Swiss Re fell 0.6 percent. Swiss Life decreased 0.5 percent and Zurich Insurance lost 0.4 percent.
Copyright RTT News/dpa-AFX
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