The Swiss Stock Market Pulled Back On Broad Weakness

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(RTTNews.com) - The Swiss stock market got off to a weak start Tuesday and took out the lows of the day in the afternoon. Traders were in a cautious mood ahead of the G-7 summit in Canada later this week as well the June 12 summit in Singapore between U.S. President Donald Trump and North Korean leader Kim Jong Un.

The Swiss Market Index decreased by 1.11 percent Tuesday and finished at 8,538.31. The Swiss Leader Index dropped 0.87 percent and the Swiss Performance Index lost 0.83 percent.

The weak performance of the index heavyweights pressured the overall market Tuesday. Roche sank 1.9 percent, Novartis dropped 1 percent and Nestle lost 0.9 percent.

Bank stocks were also under pressure Tuesday. UBS weakened by 2.7 percent, Credit Suisse fell 2.2 percent and Julius Baer lost 1.6 percent.

Swiss Life decreased 1.6 percent, Zurich Insurance surrendered 0.9 percent and Swiss Re fell 0.8 percent.

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This article appears in: US Markets , Stocks

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