(RTTNews.com) - The Swiss stock market bounced back Thursday, following Wednesday's pullback. The market received a boost from the strong performance of the pharmaceutical heavyweights and easing concerns over a global trade war.
The Swiss Market Index increased by 1.56 percent Thursday and finished at 8,818.19. The Swiss Leader Index climbed 1.09 percent and the Swiss Performance Index added 1.33 percent.
Novartis was the top performing stock of the session, with an increase of 4.1 percent. Bloomberg reported that the company will exit its antibiotics research in San Francisco, which will lead to a workforce reduction of 140 jobs.
Roche also climbed 3.2 percent and Nestle finished up by 0.4 percent.
Lonza and Sika advanced by 1.2 percent each.
Julius Baer was one of the few decliners Thursday, falling 1.8 percent. Credit Suisse rose 0.03 percent and UBS gained 0.5 percent.
Zurich Insurance and Swiss Re finished up by 0.9 percent each and Swiss Life added 0.4 percent.
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Source : https://www.nasdaq.com/article/the-swiss-stock-market-climbed-on-strength-of-pharma-heavyweights-20180712-00830218