The Swiss Stock Market Surged On Draghi Comments & Roche Results

(RTTNews) - The Swiss stock market ended Thursday's session with a strong gain, following comments made by European Central Bank President Mario Draghi. The market was rather calm during the first half of the session, but broke out in the afternoon after Draghi stated that the ECB will consider further monetary easing in December.

The European Central Bank left its key interest rates unchanged at a record low on Thursday. Draghi reiterated at his press conference that the ECB was ready and willing to take all necessary measures.

The Swiss Market Index increased 2.17 percent Thursday and finished at 8,788.92. The Swiss Leader Index gained 2.02 percent and the Swiss Performance Index added 1.99 percent.

The index heavyweights all finished with substantial gains. Roche climbed 2.9 percent after its third quarter report. Sales for the quarter rose 6 percent, which exceeded expectations. The company also increased its full year sales forecast. Novartis increased 2.0 percent and Nestle added 2.1 percent.

Swatch gained 3.5 percent and Richemont finished higher by 3.1 percent. Clariant rose 3.0 percent and Aryzta finished up by 3.5 percent. Transocean also climbed 4.0 percent, receiving a boost from rising oil prices.

Credit Suisse recovered some ground in the afternoon, but ended Thursday's session with a loss of 1.5 percent. The stock dropped 3.6 percent yesterday after it reported financial results. UBS gained 2.7 percent and Julius Baer closed higher by 3.0 percent.

Syngenta rose 1.8 percent, adding to its gain of over 6 percent yesterday. The company announced the resignation of CEO Mike Mack on Wednesday.

ABB advanced 1.7 percent on the prospects for further easing of monetary policy in the euro zone. Adecco finished higher by 1.0 percent and Actelion added 1.5 percent.