The Swiss Stock Market Held Onto A Small Gain

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(RTTNews.com) - The Swiss stock market fluctuated between small gains and losses throughout Thursday's session, but managed to cling to a small increase. Traders were in a cautious mood due to concerns over trade tensions between the U.S. and China.

The U.S. imposed tariffs on $16 billion worth of Chinese goods, leading to a tit-for-tat retaliation by the Asian nation.

The Swiss Market Index increased by 0.02 percent Thursday and finished at 9,049.72. The Swiss Leader Index climbed 0.04 percent and the Swiss Performance Index added 0.11 percent.

The index heavyweights ended the session with mixed results. Novartis fell 0.5 percent, Nestle rose 0.2 percent and Roche ended the day unchanged. Novartis announced that its Phase 3 trial of BYL719 met its primary endpoint.

UBS dropped 0.7 percent, Credit Suisse surrendered 0.1 percent and Julius Baer finished down by 0.4 percent.

Despite the trade concerns, the luxury goods companies finished in the green. Richemont climbed 0.7 percent and Swatch Group added 0.1 percent.

ABB was among the top performing stocks of the session, with an increase of 1.7 percent. Givaudan and Sika also gained 0.7 percent each.

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

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