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The Swiss Stock Market Finished Lower As Investors Take Profits

The Swiss stock market ended Tuesday's session in the red. Following the strong start to the trading week, which drove the market to a new high for the year, investors took the opportunity to cash in some profits.

The Swiss Market Index decreased by 0.43 percent Tuesday and finished at 9,288.92. The Swiss Leader Index dropped 0.36 percent and the Swiss Performance Index lost 0.37 percent.

Index heavyweight Novartis sank 1.3 percent after a downgrade by Liberum. Roche also surrendered 0.6 percent, while Nestlé gained 0.4 percent.

The rest of the pharmaceutical stocks were also under pressure Tuesday. Vifor declined 1.0 percent. In the broad market, Santhera tumbled 4.9 percent, Kuros surrendered 3.9 percent, Newron fell 3.5 percent and Idorsia lost 2.1 percent.

Swiss Re weakened by 2.0 percent after Blackrock slightly reduced its stake in the reinsurer. Swiss Life decreased 1.0 percent and Baloise fell 0.9 percent. Credit Suisse dropped 0.8 percent and UBS lost 0.6 percent.

Givaudan advanced 1.0 percent after a price increase by JP Morgan. Kuehne + Nagel climbed 0.7 percent and Swatch Group added 0.6 percent.

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