BRUSSELS (dpa-AFX) - The Swiss stock market rose again Thursday, adding to yesterday's strong gains. The increase drove the market above the 9,500 point level for the first time since August 2015.
Global markets were in rally mode Thursday, with the Japanese stock market jumping over 3 percent on its first trading day of the New Year and markets on Wall Street reaching new record highs. Positive economic data from Europe and the U.S. also provided a boost to investor sentiment. Traders are looking forward to the release of the U.S. jobs report tomorrow.
The Swiss Market Index increased by 0.32 percent Thursday and finished at 9,509.28. The Swiss Leader Index climbed 0.58 percent and the Swiss Performance Index added 0.32 percent.
Cement producer LafargeHolcim was among the top gainers of the session, with an increase of 2.3 percent. Adecco advanced 1.6 percent, Kuehne + Nagel climbed 1.3 percent and Schindler added 1.2 percent.
Financial stocks turned in a solid performance Thursday. Partners Group climbed 1.7 percent and private bank Julius Baer rose 1.5 percent. Credit Suisse advanced 1.5 percent and UBS gained 0.8 percent. Among the insurance stocks, Swiss Life advanced 1.0 percent and Zurich Insurance finished higher by 0.6 percent.
Vifor Pharma rose 0.8 percent, extending the gains from the previous session. The European Medicines Agency has accepted the application for avacopan for review.
Roche was the only gainer among the index heavyweights, with an increase of 0.2 percent. Nestlé dipped 0.1 percent and Novartis fell 0.5 percent.
In the broad market, Addex surged another 28 percent. The stock had jumped by 32 percent on Wednesday after it reached a strategic partnership with Indivior.
Copyright RTT News/dpa-AFX