(RTTNews) – The Swiss stock market ticked higher on Monday, closing in the green for the second straight session and advancing more than 70 points or 0.6 percent in that span.
That was in line with the rest of the European markets, which finished mixed and largely unchanged.
The U.S. markets were closed on Monday for Presidents Day and the mood was tentative because of recent hawkish signals from Fed Reserve and ECB officials regarding the outlook for interest rates.
This was offset by optimism around China’s recovery as the country moves past the latest round of COVID-19 restrictions.
For the day, the SMI advanced 10.39 points or 0.09 percent to finish at 11,266.68 after trading between 11,247.40 and 11,291.70.
Among the individual components, Credit Suisse spiked 1.50 percent, while Swiss Re jumped 1.39 percent, Novartis stumbled 0.54 percent, Swatch Group dropped 0.39 percent, UBS Group and ABB both fell 0.35 percent, Roche Holding added 0.30 percent, Swiss Life gained 0.25 percent, Swisscom perked 0.21 percent, Zurich Insurance dipped 0.18 percent and Julius Bar Gruppe was up 0.10 percent.