News Column

Widespread Gains Power Swiss Market Higher

August 19, 2014

BRUSSELS (dpa-AFX) - Swiss stocks extended recent gains on Tuesday, led by strong performances from some of the nation's largest companies.

The Swiss Market Index added 0.85 percent to 8525.38, and is outperforming other European markets year-to-date.

Credit Suisse picked up 1.2 percent, Novartis rose 1.3 percent and economically-sensitive stocks like Richemont and Swatch pushed higher.

Fitch Ratings has affirmed Nestle's Long-term Issuer Default Ratings (IDR) and senior unsecured ratings at 'AA+'. Shares of the food giant were up 0.3 percent.

Chocolate maker Lindt reported its net profit rose 14 percent in the first half. The company also backed its full-year targets. The stock was up 2.2 percent.

Swisslog said its net result climbed 9.5 percent in the first half of 2014. Shares rose 1.8 percent.

Luzerner Kantonalbank posted first-half profit after tax of 94.4 million Swiss francs and confirmed its earnings forecast for 2014. Shares inched up fractionally.

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Source: dpa-AFX International Compact

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