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Swiss Stock Market Extends Winning Streak
(RTTNews) - The Swiss stock market ticked higher on Monday, halting the two-day losing streak in which it had fallen almost 120 points or 1.1 percent.
The market opened higher and spent all session in the green; that was in line with the rest of the major European markets, which also finished higher.
Traders looked to scoop up bargains after the markets suffered their worst weekly performance this year last week on concerns the Federal Reserve will keep raising rates to tame inflation.
For the day, the SMI advanced 38.16 points or 0.34 percent to finish at 11,219.93 after trading between 11,215.62 and 11,272.69.
Among the individual components, Credit Suisse surged 2.35 percent, while UBS Group spiked 1,25 percent, Swiss Life jumped 1.03 percent, Swatch Group rallied 0.84 percent, Swisscom improved 0.79 percent, Zurich Insurance added 0.68 percent, Roche Holding slumped 0.62 percent, Swiss Re gained 0.45 percent, Novartis fell 0.38 percent and Nestle rose 0.30 percent.
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