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The Swiss Stock Market Pared Its Losses In Late Trade


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(RTTNews.com) - The Swiss stock market got off to a weak start Monday, but pared its losses in the second half of the session. Investor sentiment continued to be negatively impacted by the currency crisis in Turkey. Banks stocks remained under pressure due to contagion fears.

The Swiss Market Index decreased by 0.29 percent Monday and finished at 9,005.35. The Swiss Leader Index dropped 0.38 percent and the Swiss Performance Index lost 0.31 percent.

Roche declined 0.2 percent. The company's Genentech unit has received a breakthrough therapy designation from the U.S. FDA for Xolair, for the prevention of severe allergic reactions following accidental exposure to one or more foods in people with allergies.

Novartis fell 0.1 percent, while Nestle rose 0.1 percent.

Credit Suisse dropped 1.2 percent, UBS weakened by 1 percent and Julius Baer finished lower by 0.4 percent.

Lafargeholcim surrendered 1 percent and Adecco lost 0.8 percent.

Richemont decreased 0.9 percent and rival Swatch Group fell 0.5 percent.


Read the original article on RTTNews (http://www.rttnews.com/2926154/the-swiss-stock-market-pared-its-losses-in-late-trade.aspx)


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This article appears in: Politics , US Markets , Stocks



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