The Swiss Stock Market Ended The First Day Of The New Week With Gains

(RTTNews) - The Swiss stock market climbed on the first day of the new trading week. The market began the session in the green and extended its early gains in the afternoon. The Swiss market has been rising for 8 consecutive weeks and has nearly recovered all of its January losses, after the surprise SNB currency decision.

The Euro regained some ground against the U.S. dollar Monday, after dropping to a 12-year low at the end of the previous week. Economic data from the U.S. was largely weaker than expected today. Investors are also looking forward to the conclusion of the Federal Reserve's 2-day monetary policy meeting on Wednesday.

The Swiss Market Index increased by 0.89 percent Monday and finished at 9,237.08. The market high before the minimum exchange rate decision by the SNB was 9,292. The Swiss Leader Index rose by 0.63 percent and the Swiss Performance Index gained 0.79 percent.

Exane BNP increased its price targets on both Richemont and Swatch Group today. Richemont advanced by 2.7 percent and Swatch added 0.4 percent.

Actelion advanced by 2.5 percent. The company presented positive study results for Selexipag, a treatment for pulmonary hypertension, over the weekend at the American College of Cardiology convention in San Diego.

The index heavyweights all finished in the green Monday. Novartis led the way, with a gain of 1.3 percent. Nestle climbed by 0.7 percent and Roche added 0.4 percent. Shares of UBS were also notably higher, rising by 2.6 percent.

Aryzta sank by 10.9 percent. The stock was down by nearly 12 percent at its lowest point of the session. The company reported disappointing results for the first half of the year.

Holcim declined by 1.3 percent, after it decided not to pursue the execution of merger agreement with France's Lafarge. Holcim is pressing for a renegotiation to the terms of the deal.

Transocean also fell by 0.7 percent, as the price of crude dropped to a 6-year low.