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The Swiss Stock Market Finished Lower After Early Gains Erode


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(RTTNews.com) - The Swiss stock market ended Thursday's session in the red. After climbing for the majority of the morning, the market reversed after U.S. President Trump called off the planned summit with North Korean leader Kim Jong Un.

Trump attributed the decision to the "tremendous anger and open hostility displayed in your most recent statement."

The Swiss Market Index decreased by 0.27 percent Thursday and finished at 8,770.94. The Swiss Leader Index dropped 0.35 percent and the Swiss Performance Index lost 0.23 percent.

The index heavyweights ended the session with mixed results. Nestle climbed 0.6 percent, while Roche fell 0.1 percent and Novartis lost 0.7 percent. Novartis announced that it has received approval from the European Commission for its biosimilar Zessly.

Bank stocks were under pressure Thursday. UBS weakened by 1.3 percent, Credit Suisse dropped 1.4 percent and Julius Baer lost 1.1 percent.

Swatch Group climbed 0.9 percent and rival Richemont added 0.6 percent. Swatch reported full-year net profit increase of 27.3 percent to 755 million Swiss francs from the previous year.

Aryzta plunged 26.7 percent after it lowered its full year guidance.


Read the original article on RTTNews (http://www.rttnews.com/2898607/the-swiss-stock-market-finished-lower-after-early-gains-erode.aspx)


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This article appears in: Politics , US Markets , Stocks


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