The Swiss Stock Market Finished Higher On Strength Of Financial Stocks

(RTTNews) - The Swiss stock market ended Tuesday's session in the green, extending the gains of the previous two trading sessions. The uncertainty surrounding the outlook for U.S. interest rates remained in focus. Financial stocks benefitted from the increased likelihood of a Fed rate hike in the near future.

However, investors remained in a cautious mood as they await the results of the U.S. jobs report for August at the end of the week. The strength of the report could have a significant impact on the outlook for interest rates going into the next Federal Reserve meeting in September.

The Swiss Market Index increased 0.63 percent Tuesday and finished at 8,236.01. The Swiss Leader Index climbed 0.80 percent and the Swiss Performance Index added 0.56 percent.

LafargeHolcim was the top gainer of the session, with an increase of 3.3 percent. HSBC upgraded its rating on the stock to "Buy" from "Hold."

The financial stocks also turned in a solid performance. Credit Suisse advanced 2.7 percent and UBS rose 1.5 percent. Julius Baer also climbed 1.3 percent. Zurich gained 1.8 percent and Swiss Re finished higher by 1.4 percent. Shares of Baloise also added 0.8 percent.

The index heavyweights all finished with modest increases. Novartis gained 0.3 percent and Roche climbed 0.4 percent. Shares of Nestlé also closed up by 0.5 percent.

There were few decliners during Tuesday's trading session. Sonova weakened by 0.6 percent and Galenica fell 0.4 percent. Kuehne + Nagel and SGS both surrendered 0.2 percent. Richemont also dipped 0.1 percent.