BRUSSELS (dpa-AFX) - The Swiss stock market ended Tuesday's session firmly in positive territory, adding to the gains of the previous session. The recent gains in the market drove it back above the 9,000 point level for the first time in nearly a month.
The market rallied yesterday after concerns over the recent tensions between North Korea and the United States eased. Investors were also relieved by reports that the damage caused by Hurricane Irma was less extensive than had been feared.
The Swiss Market Index increased by 0.79 percent Tuesday and finished at 9,053.62. The Swiss Leader Index climbed 1.03 percent and the Swiss Performance Index rose 0.78 percent.
Partners Group leaped 4.2 percent after its half year figures came in better than expected.
Credit Suisse advanced 3.3 percent after Société Générale upgraded its rating on the stock to 'Buy' from 'Hold' and increased its price target.
UBS climbed 1.8 percent, while Zurich Insurance rose 1.5 percent and Swiss Re added 1.0 percent.
Cyclicals also turned in a positive performance Tuesday. Dufry gained 1.7 percent, ABB increased 1.2 percent, while LafargeHolcim and Richemont added 1.1 percent each.
Index heavyweight Novartis finished higher by 1.3 percent. Sandoz, a Novartis Division, announced the US FDA has accepted its Biologics License Application under the 351 (k) pathway for a proposed biosimilar to the reference medicine, Rituxan. Roche also closed up by 0.3 percent.
Copyright RTT News/dpa-AFX