The Swiss Stock Market Re-Crossed The 9,000 Point Level

(RTTNews) - The Swiss stock market ended Wednesday's session with a modest increase, after finishing virtually flat yesterday. Early gains began to erode in the afternoon, but received a tailwind from the opening of the U.S. markets. The market finished off its intraday high, but closed above the 9,000 point level.

Investors are looking forward to Thursday's announcement from the European Central Bank. The ECB is expected to announce further stimulus measures tomorrow. Meanwhile, U.S. private sector employment came in stronger than expected today. Traders will be watching for the release of the U.S. employment report for November on Friday. The Federal Reserve is largely expected to begin raising interest rates at its upcoming meeting.

The Swiss Market Index increased 0.26 percent Wednesday and finished at 9,023.38. The SMI reached an intraday high of 9,053 points. The Swiss Leader Index rose 0.24 percent and the Swiss Performance Index added 0.23 percent.

The top gainer of the session was LafargeHolcim, with an increase of 1.7 percent. The stock received support from the strong dollar. Credit Suisse was another notable gainer, rising by 1.3 percent.

Roche climbed 1.1 percent, after Morgan Stanley upgraded its rating on the stock to "Buy" from "Neutral."

Novartis fell 0.5 percent, after Citigroup replaced it on its "Focus List" with Roche. Shares of Nestle finished higher by 0.6 percent.

Sonova advanced 0.6 percent and Schindler added 0.8 percent. Swatch rose 0.7 percent, but rival Richemont lost 0.4 percent.

Zurich Insurance Group dropped 1.1 percent. The stock was down slightly yesterday, after the departure of CEO Martin Senn.