(RTTNews.com) – The Swiss stock market ended the first session of the new trading week with a very slight dip. Following the strong gains of the previous trading week, the pause came as no surprise to investors. Rising geopolitical concerns took center stage Monday, following the recent North Korean missile tests and the uncertainty surrounding next week’s parliamentary elections in the Netherlands.
In addition, investors are also looking ahead to several major upcoming events this week and next. The European Central Bank’s policy meeting is scheduled for March 9, followed by the all-important U.S. jobs report due on Friday and the Fed’s March 14-15 policy meeting.
The Swiss Market Index decreased by 0.06 percent Monday and finished at 8,664.80. The Swiss Leader Index dropped 0.28 percent and the Swiss Performance Index slipped 0.04 percent.
Swiss Life also dropped 0.6 percent. The stock was among the top performing stocks last week Friday, after the insurer reported full year results.
Cyclical stocks also turned in a weak performance. Clariant decreased 1.0 percent, LafargeHolcim fell 0.8 percent and ABB forfeited 0.5 percent. Syngenta also finished lower by 0.2 percent.
Bakery group Aryzta climbed 1.9 percent, bouncing back from a recent sell-off. Dufry also closed higher by 1.0 percent.
The luxury goods companies also finished with modest gains. Swatch increased 0.6 percent and Richemont added 0.3 percent.
The index heavyweights all finished in the green Monday. Nestlé increased 0.7 percent, while Novartis and Roche rose by 0.1 percent each.
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Plantations International