The Swiss Stock Market Dipped After Long Holiday Weekend

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(RTTNews.com) - The Swiss stock market ended its first day of the new trading week with a very slight loss. The market was closed on Monday for the Whit Monday holiday.

After a positive start, the market quickly pared its early gains and slipped into the red. The market staged a recovery in the afternoon, but again retreated going into the close.

The Swiss Market Index decreased by 0.05 percent Tuesday and finished at 8,936.07. The Swiss Leader Index climbed 0.23 percent, but the Swiss Performance Index lost 0.08 percent.

Among the index heavyweights, Nestle declined 1.4 percent and Novartis fell 0.4 percent. Roche also finished lower by 0.3 percent. Study results showed that Roche's hemophilia drug Hemlibra dramatically reduced bleeding in a pair of clinical trials.

Sonova dropped 1.3 percent despite its better than expected full year profit.

Zurich Insurance forfeited 0.7 percent and Givaudan lost 0.5 percent.

Richemont fell 0.7 percent, but rival Swatch Group climbed 2 percent.

Bank stocks turned in a strong performance Tuesday. UBS advanced 2 percent, Credit Suisse gained 1.7 percent and Julius Baer added 1.4 percent.

Lonza was another notable gainer, with an increase of 1.7 percent. Adecco climbed 1 percent and ABB rose 0.7 percent.

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This article appears in: Politics , US Markets , Stocks

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