BRUSSELS (dpa-AFX) - The Switzerland stock market snapped a four-day losing streak and ended on a firm note on Tuesday, as fears about the U.S. economy falling into a recession eased after 10-year bond yields rebounded from 15-month lows.
Mild optimism about upcoming U.S.-China trade negotiations also helped lift stock prices.
The benchmark SMI ended up 83.80 points, or 0.9%, at 9,389.30. The index, which opened at 9,322.84, rallied to a high of 9,404.19, after a mild retreat early on in the session.
On Monday, the market ended down 13.92 points, or 0.15%, at 9,305.50.
Lonza Group gained 2.1%. Novartis ended nearly 2% up. Novartis' Sandoz said it launched the availability of Treprostinil Injection in the United States, sold by United Therapeutics Corporation, including 180 days of marketing exclusivity.
Roche Holding advanced by about 1.7%. Nestle gained 1.2%, while Givaudan and Swisscomp both ended higher by about 0.75%.
SGS declined 1.4%. Julius Baer shed about 1.1%. Adecco, Credit Suisse, LafargeHolcim and Swatch posted modest losses.
Sika said it was expanding its production facility in Senegal by opening an mortar factory at its existing site in Dakar. The stock ended marginally down.
Shares of Huber+Suhner AG plunged nearly 13% on heavy volumes. According to reports, Abegg Holding, one of the company's biggest shareholders, said it has sold 2 million shares (10.04%) in Huber + Suhner at 75 francs per share in an accelerated book building.
The pan European Stoxx 600 ended up 0.77%. Among the major markets in Europe, Germany and France ended notably higher, with their benchmarks DAX and CAC 40 gaining 0.64% and 0.89%, respectively. The U.K.'s FTSE ended up 0.26%.
Copyright RTT News/dpa-AFX
© 2019 AFX News
