BRUSSELS (dpa-AFX) - The Swiss stock market ended Tuesday's session with a significant increase. The market got off to a positive start, but settled into a sideways patter around midday. The strong open on Wall Street helped to fuel further gains in the afternoon.
The focus of investors has begun to shift away from geopolitical concerns and the potential trade war between the U.S. and China, and toward corporate earnings.
The Swiss Market Index increased by 1.07 percent Tuesday and finished at 8,820.04. The Swiss Leader Index climbed 1.18 percent and the Swiss Performance Index added 1.07 percent.
Nestlé increased 0.9 percent, Novartis gained 1.6 percent and ABB added 1.7 percent ahead of their respective financial reports Thursday.
UBS advanced 0.6 percent and Credit Suisse rose 1.6 percent. Solid financial results from U.S. rival Goldman Sachs provided a boost to the Swiss banks.
Sika climbed 1.2 percent after it reported better than expected first quarter sales.
Vifor was the top gainer of the session, with an increase of 3.5 percent. Lonza and Aryzta also finished higher by 2.7 percent each. Computer supplier Logitech also closed up by 2.5 percent.
Roche added 0.02 percent after it was granted breakthrough therapy designation by the U.S. FDA for its Hemlibra drug.
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