Swiss Stocks Crawl Higher Despite Credit Suisse

(RTTNews) - Swiss stocks nudged higher but underperformed other European markets as traders assessed earnings results from big bank Credit Suisse.

The Swiss Market Index rose 0.5 percent to 8,322.70. Gainers were led by Actelion, which piked up 5 percent. Adecco rose 2.7 percent.

Credit Suisse lost 1.5 percent. The lender reported a sharp decline in first-quarter profit.

Syngenta rose 2.4 percent. The crop chemicals firm reported modest growth in sales for the first quarter, despite a delayed start to the U.S. season.

Advanced Digital Broadcast Holdings won a contract from O2 Czech Republic.

Economic expectations for Switzerland deteriorated notably in April, a survey carried out by Centre for European Economic Research (ZEW) in cooperation with Credit Suisse showed Wednesday.