The Swiss Stock Market Finished Up After Directionless Trading Session

(RTTNews) - The Swiss stock market ended Thursday's session with a modest increase, capping off a directionless trading day. Yesterday's statement from the U.S. Federal Reserve dominated the headlines, along with a number of European corporate financial reports.

The Federal Reserve left interest rates unchanged Wednesday, which was in line with expectations. However, the Fed also suggested that a December interest rate hike remains on the table. The Fed's indicated that it will assess progress towards its objectives in determining whether it will be appropriate to raise rate at its "next meeting."

The Swiss Market Index climbed 0.28 percent Thursday and finished at 8,957.27. The Swiss Leader Index rose 0.25 percent and the Swiss Performance Index gained 0.27 percent.

Cyclical stocks were among the best performers Thursday. Adecco gained 2.0 percent, while chemical company Clariant climbed 1.8 percent. Clariant's quarterly results were positively received. Sika also increased 1.4 percent.

SGS finished higher by 1.8 percent. For the extended period of 2016 to 2020, the company projects mid single organic growth and adjusted operating income margin of at least 18 percent by the end of the period.

Lonza gained 1 percent, after it said it is confident that it will deliver sales growth in 2015.

Swiss Re rose 0.4 percent following its better than expected third quarter report. Baloise advanced 0.9 percent, after it announced that Gert de Winter will replace retiring CEO Martin Strobel.

The index heavyweights all finished in the green Thursday. Roche rose 0.2 percent and Novartis added 0.7 percent. Shares of Nestlé also closed up by 0.3 percent.

Financial stocks were under pressure due to disappointing earnings reports from Deutsche Bank and Barclays. UBS dropped 0.9 percent, while Credit Suisse fell 0.4 percent.