BRUSSELS (dpa-AFX) - The Swiss stock market ended the first trading day of the new week with a strong increase, following the heavy losses of the prior week. Despite the strong gain, investors remain cautious due to political uncertainty in Italy and concerns over a potential trade war.
The prospect of a hung Parliament in Italy looks increasingly likely after nearly half of the votes in Sunday's Italian general election went to populist parties.
Concerns about a global trade war continue to weigh on sentiment, as President Donald Trump plans to implement tariffs on steel and aluminum imports. Trump has also threatened to tax imports of European automobiles.
The Swiss Market Index increased by 2.08 percent Monday and finished at 8,808.38. The Swiss Leader Index climbed 1.92 percent and the Swiss Performance Index added 2.02 percent.
LafargeHolcim jumped 3.3 percent. The cement giant dropped by over 8 percent after it posted full year results last week.
Logitech advanced 2.9 percent, Aryzta rose 2.6 percent and Geberit added 2.5 percent. Givaudan and Vifor Pharma finished higher by 2.4 percent each. Richemont climbed 2.1 percent and Swatch gained 2.5 percent.
The index heavyweights all finished solidly in positive territory. Roche increased 3.0 percent, while Nestlé advanced 2.2 percent and Novartis rose 2.0 percent.
Adecco declined 1.4 percent Monday. The stock tumbled over 9 percent during the prior trading week.
Copyright RTT News/dpa-AFX