ZURICH, Oct 7, 2008 (AFP) - Switzerland's stock market opened Tuesday up 1.94 percent, showing a slight recovery from a dramatic fall the day before on a loss of confidence in the financial sector.

The main Swiss index, SMI, was up in early trading at 6,584.11 points, after closing down 6.12 percent at 6,458.72, its lowest level in three years.

Banking stocks showed strong momentum early Tuesday. At 9:04 am (0704 GMT), UBS climbed 3.54 percent to 21.64 Swiss francs, while Credit Suisse was up 3.05 percent at 54 francs.

Julius Baer, which was under intense pressure on Monday, gained 3.60 percent to 46 francs.