BRUSSELS (dpa-AFX) - The Switzerland stock market snapped a three-session losing streak and ended on a positive note on Monday amid renewed optimism about the U.S. and China signing the first phase of a trade deal by mid-November.
The benchmark SMI ended up 25.93 points, or 0.26%, at 9,991.42. The index which eased to 9,955.10 in early trades, swiftly rose to a high of 10,026.01, but gave up gains and stayed a bit sluggish till the end of the session, albeit in positive territory.
On Friday, the SMI ended down 43.45 points, or 0.43%, at 9,965.49, after losing 0.23% and 0.16% on Wednesday and Thursday, respectively.
ABB gained about 2.8%. Adecco and Credit Suisse ended higher by 2.3% and 2.1%, respectively. LafargeHolcim gained 1.75%. Sika, Richemont, Swatch Group and Zurich Insurance Group gained 1 to 1.3%.
Nestle, Givaudan and Novartis ended down 0.4 to 1%.
Roche Group announced that its Tecentriq immunotherapy mixed with the older cancer drug Avastin lifted both overall survival and progression-free survival in people with liver cancer that cannot be surgically removed. The stock ended little changed from previous closing price.
UBS Group shares ended stronger by about 2.3% on reports the lender is cutting about 40 jobs in the Asia-Pacific region as part of its efforts to cut costs and combine its trading units.
Among midcap stocks, AMS gained 5.7% and VAT Group ended 3.4% up. Baloise Holding and OC Oerlikon Corp gained 2.7% and 2.3%, respectively. Georg Fischer, Bucher Industries, Dufry, Logitech International, Kuehne & Nagel and Schindler gained 1 to 2%.
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