Swiss Stock Market Halts Losing Streak
(RTTNews) - The Swiss stock market on Tuesday ended the seven-day losing streak in which it had stumbled more than 465 points or 4 percent.
The strength was in line with the rest of the major European markets, which reacted positively to news that Iran and Israel have started to observe a ceasefire.
While both sides have accused each other of violating the ceasefire, traders remained optimistic about easing tensions in the Middle East.
Also, traders largely shrugged off comments from U.S. Federal Reserve Chair Jerome Powell indicating the central bank will remain on hold despite pressure from Trump to lower interest rates.
For the day, the index jumped 133.96 points of 1.13 percent to finish at 11,988.92 after trading between 11,958.53 and 12,075.14.
Among the actives, Sika surged 3.72 percent, while Adecco Group spiked 3.50 percent, UBS Group rallied 3.08 percent, Julius Bar Gruppe strengthened 1.79 percent, Nestle climbed 0.66 percent, Roche Holding advanced 0.61 percent, Zurich Insurance and Novartis both added 0.36 percent, Swiss Re gained 0.33 percent, Swiss Life rose 0.27 percent, Swisscom gathered 0.09 percent and Swatch Group was up 0.08 percent.
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