(RTTNews.com) – The Swiss stock market enjoyed a broad rally at the start of the new trading week and ended the day firmly in the green. Investors cheered the news that a bill to overhaul the U.S. tax system had received Senate approval.
With the vote to approve the bill, lawmakers from the Senate and House will need to go to conference to work out differences in the bills passed by the two chambers. Traders are hopeful that President Trump will be able to sign the bill into law before the end of the year.
The Swiss Market Index increased by 0.58 percent Monday and closed at 9,328.62. The Swiss Leader Index climbed 0.72 percent and the Swiss Performance Index added 0.63 percent.
Among the cyclicals, ABB gained 2.1 percent after Deutsche Bank rated the stock a “Buy.” Kuehne + Nagel climbed 1.8 percent and Geberit rose 1.4 percent. SGS increased 1.3 percent and Schindler added 1.1 percent.
Index heavyweight NestlÃ© advanced 0.8 percent. According to media reports, the food giant is said to be interested in the consumer health division of the German company Merck.
Novartis climbed 0.4 percent, while Roche weakened by 0.4 percent.
Lonza was the weakest performing stock of the session, falling 1.3 percent. Logitech also decreased 1.0 percent.
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