BRUSSELS (dpa-AFX) - Following two days of losses, the Swiss stock market ended Thursday's session with a significant increase. The market got off to a weak start, but climbed into positive territory late in the morning and extended its gains in the afternoon.
The Swiss Market Index increased by 1.18 percent Thursday and finished at 9,424.67. The Swiss Leader Index climbed 1.12 percent and the Swiss Performance Index added 1.02.
Credit Suisse was the top performing stock of the session, with an increase of 2.6 percent. UBS also finished higher by 1.5 percent.
Dufry advanced 2.3 percent, adding to yesterday's strong gains. The stock has rallied higher on the news that American investor Paul Singer has acquired a stake in the company.
Vifor Pharma climbed 1.7 percent, while Lonza, SGS and LafargeHolcim finished up by 1.6 percent each.
The index heavyweights all ended the day in the green. Novartis increased 1.3 percent, Roche rose 1.2 percent and Nestlé added 1.0 percent. The U.S. FDA has approved Roche's Perjeta for HER2-positive breast cancer, while its Alecensa drug was approved in the EU for ALK-positive lung cancer.
Aryzta advanced 1.2 percent. Credit Suisse increased its price target on the stock, but maintained its 'Neutral' rating.
Richemont climbed 1.3 percent and rival Swatch gained 0.8 percent.
Copyright RTT News/dpa-AFX