The Swiss Stock Market Dropped At The Start Of The Trading Week

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(RTTNews.com) - The Swiss stock market ended the first day of the new trading week in the red. Global trade concerns continued to weigh on sentiment Monday and dragged shares of the luxury goods companies lower. The sharp drop in shares of Julius Baer was also in focus, following the warning from the private bank.

The Swiss Market Index decreased by 0.35 percent Monday and finished at 8,959.79. The Swiss Leader Index dropped 0.3 percent and the Swiss Performance Index lost 0.34 percent.

Julius Baer fell 4 percent after the private bank warned that clients are becoming more cautious due to rising trade tensions. Meanwhile, shares of Credit Suisse climbed 0.8 percent and UBS added 0.3 percent.

The index heavyweights all finished modestly lower Monday. Nestle decline 0.4 percent, Roche decreased 0.3 percent and Novartis slid 0.2 percent.

Richemont dropped 2 percent and rival Swatch Group fell 1.8 percent.

Sika was another notable loser, weakening by 1.5 percent.

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This article appears in: Politics , US Markets , Stocks
Referenced Symbols: CS ,

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