The Swiss Stock Market Finished With A Slight Gain After Early Profits Erode

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(RTTNews.com) - The Swiss stock market clung to a very small increase Thursday, after early gains eroded over the course of the trading day. Investors remain in a cautious mood ahead of the G-7 summit in Canada this week and the planned meeting between President Donald Trump and North Korean leader Kim Jong Un next week.

The Swiss Market Index increased by 0.04 percent Thursday and finished at 8,548.33. The Swiss Leader Index climbed 0.08 percent and the Swiss Performance Index added 0.03 percent.

Among the index heavyweights, Novartis rose 0.4 percent and Roche added 0.1 percent. Meanwhile, Nestle finished with a loss of 0.5 percent.

Shares of the luxury goods companies were hard hit Thursday. Swatch dropped 2 percent and rival Richemont fell 1.4 percent.

UBS advanced 0.7 percent on reports that the bank is cutting jobs. Credit Suisse rose 0.3 percent and Julius Baer gained 0.5 percent.

Swiss Life and Zurich Insurance climbed 1 percent each, and Swiss Re added 0.5 percent.

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This article appears in: Politics , US Markets , Stocks

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