The Swiss Stock Market Extended Its Recent Gains Thursday

(RTTNews) - The Swiss stock market finished in the green again Thursday, adding to the gains of the previous session. The market overcame some early weakness and climbed after the release of a series of U.S. economic reports.

The Swiss Market Index increased by 0.32 percent Thursday and finished at 8,450.67. The Swiss Leader Index rose by 0.11 percent and the Swiss Performance Index added 0.20 percent.

Richemont dropped by 2.0 percent, after the luxury goods group reported a 9 percent increase in third-quarter sales at constant exchange rates. The results were seen as a disappointment, especially in light of the recent positive news from competitors such as Burberry, Prada and Swatch. Swatch also dipped by 0.2 percent Thursday.

Actelion climbed by 3.6 percent, after Bank Vontobel confirmed its "Buy" rating on the stock and increased its price target. Adecco advanced by 2.7 percent, after HSBC upgraded its rating on the stock to "Overweight" from "Neutral."

Zurich Insurance rose by 1.9 percent, after Morgan Stanley upgraded it to "Overweight." However, Swiss Re dropped by 1.9 percent, after JP Morgan downgraded it to "Underweight" from "Neutral."

The overall market received support from the strong performance of index heavyweight Nestle, which rose by 1.2 percent. Novartis gained 0.7 percent, but Roche dipped by 0.1 percent.