Swiss Stocks Join European Rally

(RTTNews) - Swiss stocks followed other European markets higher Thursday, although strength was less pronounced in Zürich than elsewhere. Traders responded favorably to the European Central Bank's details regarding bond buying that is set to begin Monday.

The Swiss Market Index (SMI) closed 0.47 percent higher at 9,034.60, 17 points below the intraday high of 9,051.57.

The Swiss Leader Index (SLI) gained 0.79 percent and the broad Swiss Performance Index (SPI) rose 1.00 percent. 25 of the top 30 SLI stocks closed in positive territory, only four in the red and Syngenta unchanged.

Adecco shares rose 1.9 percent on after UBS raised its target price.

Swatch rose 1.7 percent even after Tiffany & Co. won a Dutch court ruling setting in a case against the Swiss watch maker.

Lonza was up 5.4 percent after US company Bristol-Myers Squibb (BMS) received FDA approval for the drug Opdivo, which was developed by Lonza.