BRUSSELS (dpa-AFX) - The Swiss stock market ended Tuesday's session with a solid increase. The market briefly slipped into negative territory around midday, but recovered in the afternoon following the opening bell on Wall Street. Cyclical and financial stocks were a source of strength.
Traders were in a cautious mood ahead of the release of the minutes from the most recent meeting of the Federal Reserve tomorrow. Investors are hopeful that the minutes shed some light on the central bank's outlook for interest rates.
The Swiss Market Index increased by 0.82 percent Tuesday and finished at 8,981.39. The Swiss Leader Index climbed 0.92 percent and the Swiss Performance Index added 0.70 percent.
SGS advanced 2.1 percent, Lonza climbed 1.9 percent and Sika added 1.6 percent. Schindler also finished higher by 1.4 percent after Credit Suisse raised its price target on the stock.
LafargeHolcim gained 1.4 percent after German competitor HeidelbergCement reported strong fourth quarter results.
Swiss Re increased 1.4 percent and Baloise added 1.0 percent. UBS climbed 1.5 percent and Credit Suisse rose 1.2 percent.
Swatch advanced 0.6 percent and Richemont added 0.3 percent following the release of the Swiss watch export data.
The index heavyweights all finished with modest gains Tuesday. Nestlé and Roche gained 0.3 percent each, while Novartis rose 0.6 percent.
Copyright RTT News/dpa-AFX