The Swiss stock market closed slightly lower on Monday, taking a slight pause following the significant gains of the past 2 weeks. The European Central bank was in focus at the beginning of the new trading week, as was the upcoming meetings for the Greek Prime Minister.
In the afternoon, the European Central Bank rejected a report about a possible capping of risk premiums on government bonds. Germany's Spiegel magazine reported Sunday, without mentioning its sources, that the ECB was considering setting limits on yields of Eurozone sovereign bonds.
The Swiss Market Index declined by 0.35 percent Monday and finished at 6,506.25. The Swiss Leader Index fell by 0.38 percent and the Swiss Performance Index lost 0.31 percent.
Bank stocks were under pressure on Monday. Shares of UBS declined by 1.8 percent and Credit Suisse dropped by 1.3 percent. Julius Baer also decreased by 1.0 percent.
Shares of Nobel Biocare rose by 1.9 percent, ahead of its first half of the year report, which is due out on Wednesday. Sonova climbed by 1.4 percent, Sika gained 1.3 percent and ABB rose by 0.6 percent. Richemont and Swatch both increased by 0.7 percent.
by RTT Staff Writer
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