Swiss Stocks Crawl Slightly Higher

(RTTNews) - Swiss stocks inched up Wednesday, holding early gains even as neighboring European markets turned lower.

Investors are waiting on the U.S. Federal Reserve interest rate decision later today.

The Swiss Market Index was up 0.28 percent, and remains up nearly 8 percent year-to-date.

UBS was flat a day after reporting a healthy third quarter profit. Credit Suisse added 0.7 percent.

Economically-sensitive luxury good makers Swatch Givaudan and Richemont were higher.

Vontobel Holding expects full-year earnings slightly over those of 2013. Shares rose 0.3 percent.

Clariant said it is selling an energy storage business to Johnson Matthey Plc for $75 million. The stock rose 2.1 percent.

Daetwyler said it concluded the acquisition of the American Keystone Holdings, Inc. Shares rose 1.4 percent.

Ascom said it had won a contract to supply a platform to the Swedish National Courts Administration. The stock rose 3.3 percent.