Swiss Stocks Flat But Fare Better Than Neighbor Markets

(RTTNews) - Swiss stocks outperformed major European markets by posting modest gains on Monday. Some late-session buying pushed the Swiss Market Index in the green, led by Actelion and Novartis.

The Swiss Market Index rose 0.11 percent to 8,663.59, trimming some recent losses.

Biopharmaceutical company Actelion said its experimental lung disease drug Selexipag met primary endpoint in late-stage study. The stock surged 14 percent in Zurich.

BlackRock Inc. said Credit Suisse's guilty plea in a U.S. tax evasion case does not affect its business relationship with the Swiss bank, according to Swiss newspaper Finanz und Wirtschaft. Credit Suisse was down fractionally.

Syngenta has agreed to buy Swedish ag company Lantmaennen's winter wheat business operations. Syngenta lost 0.4 percent.

Novartis said the U.S. FDA licensed a facility for the production of cell-culture flu vaccines. Shares rose 0.4 percent.

Sonova said it has acquired 100 percent of the shares of Sweden hearing aid maker Comfort Audio i Halmstad AB. Sonova lost 0.3 percent.