The Swiss Stock Market Recovered From Early Weakness & Finished Higher

(RTTNews) - The Swiss stock market ended Wednesday's session with a modest increase. The market got off to a weak start, due to the continued weak performance of its most heavily weighted stocks.

The market received support in the afternoon from some better than expected U.S. economic reports. Weekly jobless claims unexpectedly increased and consumer sentiment was revised upwards. Investors are preparing for the Thanksgiving holiday, which will close the U.S. markets on Thursday and shorten Friday's session.

The Swiss Market Index increased by 0.08 percent Wednesday and finished at 8,245.68. The Swiss Leader Index climbed by 0.33 percent and the Swiss Performance Index added 0.06 percent.

The index heavyweights finished to the downside for a second consecutive session Wednesday. Novartis led the way, with a loss of 0.8 percent. Nestle fell by 0.2 percent, while Roche finished unchanged.

Actelion was among the biggest gainers Wednesday, with an increase of 2.7 percent. The move was attributed to takeover speculation. Swatch climbed by 1.7 percent and Richemont added 1.2 percent. Adecco advanced by 2.0 percent and Geberit gained 0.9 percent.

Societe Generale upgraded Zurich Insurance to ''Buy'' from ''Hold.'' The stock rose by 0.5 percent.