(RTTNews.com) – The Swiss stock market traded in the green for much of the morning Wednesday, but slipped into negative territory for most of the afternoon. However, the market did not stray too far from the flat line in either direction and ended the session with a small gain.
Earnings were in focus, following a high volume of corporate financial releases. Much like the previous session, investors remained risk-averse on Wednesday. Traders remain cautious ahead of the upcoming French election and are waiting to see what is coming next from the Trump administration in the US.
The Swiss Market Index increased by 0.10 percent Wednesday and finished at 8,378.73. The Swiss Leader Index dropped 0.17 percent, while the Swiss Performance Index rose 0.10 percent.
Swisscom gained 1.4 percent after its positive earnings report. The company’s outlook for the current year was also in line with expectations.
Syngenta advanced 1.1 percent. The agrochemical group stated that it is making progress in winning regulatory approval for its $ 43 billion deal with ChemChina.
ABB sank 3.4 percent. The engineering firm reported an increase in new business but cautioned that 2017 would likely be dominated by market uncertainty.
Credit Suisse was another significant decliner, with a loss of 2.8 percent. Cyclical stocks were also under pressure. Adecco weakened by 2.0 percent, Richemont fell 1.3 percent and Swatch lost 0.9 percent.
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Plantations International