The Swiss Stock Market Finished In The Green Tuesday

(RTTNews) - The Swiss stock market ended Tuesday's session in positive territory, recovering from a sharp 2-day correction. Investor sentiment received a boost from several better than expected U.S. earnings reports from large corporations. The sharp rise in U.S. house prices and the better-than-expected consumer confidence helped to divert attention away from the weak durable goods orders data.

Investors are eagerly anticipating the announcement from the Federal Reserve, after it concludes its 2-day policy meeting tomorrow. The Fed is expected to cut its bond-buying stimulus program to $65 billion from the current $75 billion, the same pace as the first reduction announced in December.

The Swiss Market Index increased by 0.67 percent Tuesday and finished at 8,186.62. The Swiss Leader Index climbed by 0.97 percent and the Swiss Performance Index added 0.78 percent.

Adecco climbed by 3.5 percent Tuesday, after JP Morgan increased its price target on the stock. Givaudan advanced by 2.5 percent, ahead of its earnings report on Thursday. Lonza gained 3.2 percent and Clariant added 2.1 percent. Syngenta rose by 1.8 percent and Sika by 2.3 percent.

The index heavyweights all finished in positive territory. Roche increased by 0.7 percent and Novartis gained 0.6 percent. Shares of Nestle also finished higher by 0.1 percent.

Financial stocks also turned in a strong performance Tuesday. UBS increased by 1.9 percent and Credit Suisse gained 0.5 percent. Swiss Life advanced by 3.5 percent and Baloise added 1.2 percent.