BRUSSELS (dpa-AFX) - The Switzerland stock market ended sharply higher on Thursday, tracking gains in global markets after data showed an unexpected increase in Chinese exports in the month of July despite trade concerns.
Some strong earnings reports from big-name Swiss companies helped as well.
The benchmark SMI ended up 217.57 points, or 2.28%, at 9,751.55, slightly off the day's high of 9,757.42.
On Wednesday, the SMI index ended down 19.90 points, or 0.21%, at 9,533.98, extending losses to a fourth straight session.
Only one stock out of the 20-stock strong SMI index ended in negative territory today. The loss posted by Geberit, was however, just marginal.
Shares of Zurich Insurance Group rose 4% after the company said it is on track to surpass the targets it set itself for the full year.
Roche Holding, Lonza Group, LafargeHolcim, Richemont, Swatch Group, Sika, Swiss Re and Credit Suisse gained 2 to 3%, while Novartis advanced 3.4%.
UBS Group gained 1.8%. Adecco gained 1.54% on strong second quarter results. ABB, Nestle and Givaudan also moved up by more than 1.5%.
Swiss Life Holding and Swisscom gained 1.45% and 1.2%, respectively. Alcon and SGS posted modest gains.
In the midcap section, Vifor Pharma soared 8.75%.
Temenos Group and BB Biotech gained 3.85% and 3.5%, respectively. AMS, Dufry, Logitech International, GAM Holding and VAT Group were among the other major gainers.
With stocks from several sectors scoring solid gains, the pan European Stoxx 600 moved up 1.66%. Among the major markets in Europe, France ended sharply higher, with its benchmark CAC 40 rising as much as 2.31%. Germany's DAX and the U.K.'s FTSE 100 added 1.68% and 1.21%, respectively.
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