The Swiss Stock Market Rebounded After 2 Days Of Losses

(RTTNews) - The Swiss stock market ended Wednesday's session with a significant increase, following the sharp pull back of the last two trading days. The strong performance in Asia provided early strength to the market Wednesday. Global markets rallied on the final day of the third quarter.

The mood among investors Wednesday significantly improved from earlier this week. Financial and cyclical stocks were among the top performers. Investors will be watching for any further clues on the timing of a Federal Reserve interest rate hike when Fed Chair Janet Yellen gives a speech later today. U.S. private sector job growth came in better than expected this afternoon.

The Swiss market Index climbed 2.28 percent Wednesday and finished at 8,513.41. The SMI concluded the quarter with an overall loss of 3 percent. The Swiss Leader Index rose 2.05 percent Wednesday and the Swiss Performance Index gained 2.16 percent.

Julius Baer was the top gainer of the session, with an increase of 4.1 percent. The Bank announced that it intends to reorganize its businesses in some regions. Zurich Insurance climbed 2.3 percent and Swiss Life added 2.2 percent.

Among the cyclicals, Transocean gained 2.9 percent, Adecco advanced 2.8 percent and Syngenta added 2.4 percent.

Clariant increased 1.9 percent, after it agreed to acquire a portion of the Personal Care portfolio of Vivimed Labs Ltd.

The index heavyweights all finished solidly to the upside. Novartis climbed 2.4 percent and Roche gained 2.2 percent. Shares of Nestle also finished higher by 2.9 percent.

Galenica rose 1.8 percent, after it received approval for its phosphate binder Velphoro in Japan.