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The Swiss Stock Market Pulled Back In Cautious Trade

The Swiss stock market ended Tuesday's session in the red, following yesterday's gain. The market got off to a positive start Tuesday, but slipped into negative territory in the afternoon. The weak opening on Wall Street and continued uncertainty about the outlook for the Republican tax reform proposal had traders in a cautious mood.

The Swiss Market Index decreased by 0.35 percent Tuesday and finished at 9,130.48. The Swiss Leader Index dropped 0.27 percent and the Swiss Performance Index lost 0.26 percent.

LafargeHolcim weakened by 1.4 percent. Lafarge's subsidiary in Paris was reportedly searched in connection with the investigation into the Syria case.

Sonova fell 1.3 percent, extending yesterday's weakness following its weak half-year results. Logitech dropped 1.1 percent, ABB surrendered 0.8 percent Vifor Pharma lost 0.6 percent. Richemont decreased 0.6 percent and Swatch slid 0.5 percent.

Swiss Life declined 0.9 percent, while Swiss Re and Zurich Insurance both lost 0.4 percent. Meanwhile, Baloise gained 0.5 percent.

Among the index heavyweights, Novartis fell 0.6 percent and Roche rose 0.1 percent. Shares of Nestlé finished lower by 0.5 percent.

Credit Suisse rose 0.1 percent after it agreed to pay $135 million to resolve currency-manipulation allegations by the U.S. authorities. Julius Baer increased 0.3 percent, while UBS dropped 0.3 percent.

Clariant was among the top gainers of the session, advancing 1.7 percent. Partners Group climbed 0.8 percent, while Swisscom and Schindler closed higher by 0.3 percent each.

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