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The Swiss Stock Market Closed In The Red Thursday As Pessimism Returns

The Swiss stock market finished to the downside Thursday. The market began the trading session with gains, but the weaker than expected Eurozone economic confidence result and the U.S. jobless claims result dragged the market lower.

Corporate earnings from the U.S. have been driving the markets in the last few days, but the results reported on Thursday were mixed. The better than expected U.S. pending home sales result in the afternoon provided some relief and helped the market to pare some of its early losses.

The Swiss Market Index fell by 0.46 percent Thursday and closed at 6,122.41. The Swiss Leader Index lost 0.33 percent and the Swiss Performance Index dropped by 0.24 percent.

Financial stocks were weak on Thursday. Credit Suisse fell by 3.8 percent, following Wednesday's loss of 2.5 percent after its quarterly report. Shares of UBS dipped by 0.5 percent, but Julius Baer closed higher by 0.8 percent.

Shares of Logitech surged by 17.0 percent after the company's better than expected earnings report. Geberit also reported stronger than expected quarterly results and climbed by 0.9 percent.

by RTT Staff Writer

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