BRUSSELS (dpa-AFX) - Following yesterday's small pullback, the Swiss stock market enjoyed a significant gain Tuesday. The market rose past the 9,600 point mark and achieved a new all-time high. The strong performance from index heavyweights Nestlé and Novartis provided a boost to the overall market.
Traders were in a positive mood after German industrial production rebounded at a faster than expected pace in November. The euro area unemployment rate also declined to the lowest since 2009.
The Swiss Market Index increased by 0.73 percent Tuesday and finished at 9,611.61. The Swiss Leader Index climbed 0.72 percent and the Swiss Performance Index added 0.76. The gain drove the SPI above the 11,000 point level for the first time in its history.
Sika advanced 2.2 percent after the building materials manufacturer posted better than expected full year sales results.
Kuehne + Nagel increased 1.5 percent and LafargeHolcim gained 1.3 percent. Insurer Bâloise climbed 1.3 percent and Zurich Insurance jumped 2.5 percent. Vifor also finished higher by 1.2 percent.
Novartis advanced 1.2 percent and Nestlé rose 0.9 percent. Shares of Roche also closed up by 0.1 percent.
Geberit added 0.1 percent. Kepler Cheuvreux increased its price target on the stock, but maintained its 'Hold' rating.
ABB gained 0.5 percent. Merrill Lynch downgraded its rating on the stock to 'Neutral' from 'Buy.'
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