The Swiss stock market dipped slightly at the start of the new trading week. After reaching a new all-time high at the end of the prior trading week, traders took an opportunity to lock in some profits ahead of the upcoming U.S. earnings reporting season.
The Swiss Market Index decreased by 0.16 percent Monday and finished at 9,541.73. The Swiss Leader Index dropped 0.05 percent and the Swiss Performance Index lost 0.10 percent.
Sika gained 0.7 percent ahead of its full year report tomorrow.
Swatch advanced 1.3 percent Julius Baer rose 1.0 percent. LafargeHolcim and Schindler climbed 0.5 percent each and Logitech added 0.4 percent.
Credit Suisse and UBS increased by 0.8 percent each. Bloomberg reported that UBS has begun discussions to acquire a 51 percent stake in its Chinese securities joint venture.
Index heavyweight Roche dropped 1.1 percent and Novartis slid 0.2 percent. Nestle weakened by 0.1 percent amid reports that Hershey and Ferrero have submitted final bids to acquire its U.S. candy business.
Givaudan tumbled 2.2 percent after Bernstein downgraded its rating on the stock to "Underperform" from "Market Perform."
by RTT Staff Writer
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