The Swiss Stock Market

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(RTTNews.com) - The Swiss stock market got off to a weak start Monday, but quickly recovered and spend much of the day in the green. However, the market slipped back into the red going into the close.

Traders were in a cautious mood at the start of the new trading week ahead of several central bank announcements this week. The Bank of Japan and the Federal Reserve are both expected to maintain rates this week, while the Bank of England is widely expected to hike rates by a quarter point.

The Swiss Market Index decreased by 0.11 percent Monday and finished at 9,163.38. The Swiss Leader Index dropped 0.02 percent and the Swiss Performance Index lost 0.14 percent.

Swatch Group was among the weakest performing stocks of the session, dropping 1.9 percent. Meanwhile, rival Richemont rose 0.02 percent.

Sika was another notable loser, falling 1.2 percent.

Swisscom was among the top performing stocks of the day, gaining 1.6 percent. Insurance stocks also performed well Monday. Swiss Re advanced 1.2 percent, Swiss Life climbed 1.1 percent and Zurich Insurance added 0.4 percent.

Credit Suisse increased 0.8 percent and UBS added 0.2 percent.

Among the index heavyweights, Roche dropped 0.4 percent, Novartis fell 0.2 percent and Nestle finished lower by 0.3 percent.

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This article appears in: World Markets , 401k , Banking and Loans , US Markets , Stocks , Retirement

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