The Swiss Stock Market Dipped On Trade Worries

Shutterstock photo

(RTTNews.com) - The Swiss stock market got off to a weak start Thursday, after returning from yesterday's holiday, and remained in negative territory throughout the session.

Trade concerns weighed on investor sentiment after U.S. Trade Representative Robert Lighthizer said President Trump has directed him to consider increasing the proposed tariff rate on $200 billion worth of Chinese goods to 25 percent from the previously announced 10 percent.

The Swiss Market Index decreased by 0.20 percent Thursday and finished at 9,155.57. The Swiss Leader Index dropped 0.44 percent and the Swiss Performance Index lost 0.14 percent.

Financial stocks were under pressure Thursday. UBS weakened by 1.8 percent, Credit Suisse lost 1 percent and Julius Baer dropped 1.7 percent.

Swiss Life declined 1.8 percent, Swiss Re surrendered 0.9 percent and Zurich Insurance dropped 1.2 percent.

Adecco was among the weakest performing stocks Thursday, sinking 3 percent. Lafargeholcim also declined 2.5 percent.

Swatch Group decreased 1.7 percent on trade worries and rival Richemont fell 0.8 percent.

Among the index heavyweights, Roche climbed 1.2 percent, Novartis rose 0.3 percent and Nestle added 0.05 percent.

Read the original article on RTTNews (http://www.rttnews.com/2922496/the-swiss-stock-market-dipped-on-trade-worries.aspx)

For comments and feedback: contact editorial@rttnews.com

This article appears in: Politics , World Markets , Economy , US Markets , Stocks

More from RTT News


See All RTT news

Research Brokers before you trade

Want to trade FX?