The Swiss Stock Market Climbed After Syria Concerns Ease

(RTTNews) - The Swiss stock market finished with significant gains Tuesday, after concerns over the situation in Syria have relaxed. Positive economic data from China also provided a boost to investor sentiment. The market also climbed back above the 8,000 point level.

The Syrian government has reportedly accepted a Russian proposal to give up its chemical weapons. The news makes a U.S. military strike against the Assad regime appear less likely. Investors will be watching U.S. President Obama's speech to the American public this evening.

The Swiss Market Index increased by 1.30 percent Tuesday and finished at 8,039.18. The Swiss Leader Index climbed by 1.49 percent and the Swiss Performance Index gained 1.27 percent.

Financial stocks turned in a strong performance Tuesday. Credit Suisse gained 2.7 percent, after CEO Brady Dougan announced in the "Financial Times" that the bank has returned to growth mode. UBS advanced by 1.9 percent and Julius Baer added 0.8 percent. Swiss Life also increased by 2.1 percent.

Novartis increased by 1.2 percent and Roche gained 0.9 percent. Jefferies affirmed its "Buy" rating on Novartis and increased its price target on the stock. Shares of Nestle also climbed by 1.2 percent.