The Swiss Stock Market Finished Higher After Easter Break

(RTTNews) - The Swiss stock market returned to action Tuesday following a 4-day weekend for the Easter holiday. The market ended the session with a slight gain. After a positive start, the market slipped into the red before midday. However, the market managed to climb back into the green going into the close.

Investors were cautious ahead of a highly anticipated speech from Federal Reserve Chair Janet Yellen. Traders are likely to keep a close eye on Yellen's remarks for any indications regarding the outlook for interest rates. Recent remarks by Fed officials have increased speculation that the Fed could raise interest rates at its next meeting in April.

The Swiss Market Index increased 0.28 percent Tuesday and finished at 7,797.65. The Swiss Leader Index rose 0.20 and the Swiss Performance Index added 0.31 percent.

The strong performance from index heavyweight Nestle provided support to the market Tuesday. The stock gained 1.7 percent. SGS and Sika both climbed 1.7 percent and Givaudan added 1.4 percent.

Shares of Dufry advanced 1.3 percent, while shares of Schindler, Sonova and Clariant all finished higher by over 1 percent.

Credit Suisse dropped 2.7 percent after Barclays lowered its price target on the stock.

Index heavyweight Novartis declined 1.5 percent. The U.S. Justice Department has expanded its ongoing investigation on bribery charges. Citigroup also downgraded its rating on the stock to "Neutral."

Shares of Galenica decreased 1.6 percent after Deutsche Bank lowered its price target on the stock.

In the broad market, Valartis surged 6.9 percent after the company agreed to sell 70% of its Liechtenstein subsidiary for 77.7 million Swiss Francs.