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Swiss stocks jump 3%

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15:22 CEST+02:00

The Swiss stock market jumped more than 3.0 percent in Monday afternoon trade, outpacing other firmer European exchanges as investors reacted to news of the imminent defeat of Libya leader Muammar Qaddafi.

At 1150 GMT, the Swiss Market Index of the 20 most traded companies was up 3.07 percent at 5,249.93 points.  

Pharmaceutical giant Roche gained 5.0 percent while Novartis rose 4.12 percent and Nestle was up 3.66 percent.  

The banks also did well, with Julius Baer climbing 2.40 percent, Credit Suisse up 1.67 percent and UBS up 0.75 percent.

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