The Swiss Stock Market Climbed Following Two Days Of Losses

(RTTNews) - The Swiss stock market ended Wednesday's session in the green, following the losses of the previous two sessions. The market received support from the strong performance of Nestle and the gains in the U.S. equity markets. Shares of Sika remained in focus, returning to action after yesterday's trading halt.

The European Central Bank held its key interest rates unchanged at a record low for a sixth consecutive policy session. Draghi's press conference was interrupted briefly in the beginning after a protester jumped onto the podium shouting "End ECB dictatorship." Economic data from the U.S. was mixed Wednesday. Homebuilder confidence topped expectations, but industrial production and the New York manufacturing data fell short.

The Swiss Market Index climbed by 0.14 percent Wednesday and finished at 9,428.55. The Swiss Leader Index rose by 0.25 percent and the Swiss Performance Index added 0.15 percent.

Sika was the weakest performing stock Wednesday, with a decrease of 3.6 percent. The dispute between the Company's management and the Burkard-Schenker family over the proposed sale to France's Saint-Gobain escalated at Sika's investor meeting yesterday. Company management will reduce the Burkard-Schenker's voting stake to five percent on several key issues. The dispute between the two parties appears destined to be resolved in court.

Kuehne + Nagel fell by 0.6 percent, extending its losses from the previous session. Deutsche Bank downgraded its rating on the stock today to "Hold" from "Buy." The company reported weaker than expected quarterly results on Tuesday.

Among the index heavyweights, Nestle was the only positive stock, with an increase of 0.6 percent. Nestle is conducting exclusive negotiations with the Brakes Group on the sale of French subsidiary Davigel. Roche declined by 0.5 percent and Novartis lost 0.4 percent.

Transocean was the top performing stock, rising by 6.9 percent. Energy stocks soared Wednesday after crude oil prices climbed to around $55 per barrel. Aryzta gained 5.0 percent on some positive comments from UBS.

Financial stocks were also among the gainers Wednesday. UBS increased by 1.1 percent and Julius Baer gained 0.9 percent. Credit Suisse finished higher by 0.3 percent.