16  Treasury shares

  

Number
of shares

  

2016
value
CHF million

  

Number
of shares

2015
value
CHF million
        

Market value as at 1 January

  

33 220

  

4.5

  

1 568

0.2

Purchases

  

130 555

  

18.3

  

205 499

27.6

Sales

  

–151 775

  

–21.1

  

–173 847

–23.2

Income on treasury shares as at 31 December

    

0.1

   

–0.1

Market value as at 31 December

  

12 000

 

1.8

  

33 220

4.5

The average purchase price per share stands at CHF 139.97 (31.12.2015: CHF 134.38).