Swiss Stocks Creep Higher As Ukraine Fears Ease

(RTTNews) - Swiss stocks rose on Wednesday amid reports Russian President Vladimir Putin is negotiating a solution to the Ukraine crisis.

Federal Reserve President Janet Yellen also reassured markets with dovish testimony before Congress this morning.

The Swiss Market Index (SMI) gained 0.31 percent to 8,421.65 points.

Swiss Re rose 0.5 percent. The world's second- biggest reinsurer, exceeded analysts' estimates in the first quarter.

Winners among the blue chips included Syngenta and Clarient. Transocean rose 0.6 percent ahead of earnings.

UBS edged lower as the company held its annual meeting.