Roche hits oneweek high
Bavarian Nordic tops STOXX 600
STOXX 600 up 0.6

Aug 23 Reuters The Swiss stock index jumped over 1 on Wednesday after Roche surged on positive lung cancer drug trial data, while other European averages lagged behind as more data hinted at slowing economic activity in the continent.

The Swiss Market Index added 1.1, touching its highest level in a week, while the panEuropean STOXX 600 rose 0.6, set for its third straight session of gains.

Roche jumped 4.3 after the Swiss drugmaker inadvertently released the data, which was perceived as a positive even though more information is needed to confirm the treatment39;s efficacy.

The broader healthcare index added 0.9.

On the data front, German business activity contracted at the fastest pace in more than three years in August, while France39;s dominant services sector contracted further in August, a preliminary survey showed.

Separately, a 39;flash39; estimate showed the downturn in euro zone business activity has deepened far more than thought this month, leading to traders scaling back bets for a September interest rate hike.

The ECB39;s hopes for an economic recovery in the second half of the year have received another bitter blow with today39;s data, said Christoph Weil, senior economist at Commerzbank.

German 10year bund yields , considered Europe39;s benchmark, eased, while ratesensitive real estate stocks added 1.8.

This week39;s centrepiece is the Jackson Hole Symposium, where…