BRUSSELS (dpa-AFX) - The Switzerland stock market ended higher on Monday, mirroring the trend seen across Europe on reports that Deutsche Bank and Commerzbank are in talks of a merger.
Though there was not any domestic economic data today, investors were digesting a slew of reports from eurozone and tracking the developments on Brexit.
The benchmark SMI ended up 72.99 points, or 0.79%, at 9,341.35.
On Friday, the index ended down 56.22 points, or 0.6%, at 9,268.36, about 40 points off the day's low 9,228.86.
LafargeHolcim shares climbed up 3%, Lonza Group advanced 2%, Credit Suisse ended 1.85% up and Adecca Group added 1.8%.
UBS Group ended 1.75% up. According to reports, a counsel for the market regulator told a tribunal hearing on Monday that UBS Group and Standard Chartered PLC have agreed to settle a case of alleged misconduct related to a 2009 initial public offering in Hong Kong.
Julius Baer ended nearly 1.5% up. ABB, Geberit and Novartis gained 1 to 1.3%.
Roche gained about 0.5% after the company's Tecentriq won USFDA approval to treat a significant number of patients with triple-negative breast cancer, a development hailed by doctors as a promising advance in fighting the aggressive disease.
Among the major markets in Europe, the U.K. ended modestly higher with its benchmark FTSE 100 gaining 0.37%. Germany's DAX and France's CAC 40 ended higher by 0.75% and 0.66%, respectively.
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