The Swiss stock market is currently experiencing a strong upward trend. Traders have observed a stabilization phase following recent market turmoil, which is indicated by a significant drop in the VSMI volatility index. However, uncertainties still exist, and it is too early to conclude that the worst is over.

Several economically sensitive stocks are performing well. ABB has seen a 2.62% increase, Adecco has risen by 1.98%, and LafargeHolcim has surged by 5.19% after Harris Associates increased its stake from 3.03% to 6.4% and advocated for asset divestment. The luxury sector is also benefiting from expectations of strong Chinese New Year sales, with Swatch showing a 2.67% gain and Richemont experiencing a 2.94% increase.

Banking stocks are on the rise as well. UBS has reported a positive movement of 1.77%, Credit Suisse has seen a 2.04% increase, and Julius Bär has risen by 1.41%. Insurers Swiss Re and Zurich are also performing well, with gains of 1.74% and 2.01% respectively. Roche has announced that its multiple sclerosis drug Ocrelizumab has been granted the status of "therapeutic breakthrough" by the U.S. FDA, resulting in a 0.85% increase in their stock price.

On the other hand, Clariant is facing pressure with a 4.43% decrease due to disappointing 2015 figures. Valiant and St. Gallen Cantonal Bank have also reported on their business performance, with decreases of 0.49% and 0.35% respectively.