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The Swiss Stock Market Pulled Back As Novartis Weighs

The Swiss stock market ended Tuesday's session in the red. The market had enjoyed a strong gain yesterday, following its weak performance during the prior trading week. The drop in shares of index heavyweight Novartis pressured the overall market Tuesday.

Concerns over a potential trade war eased somewhat after U.S. President Donald Trump indicated proposed tariffs on steel and aluminum imports would be removed if the U.S. negotiates a "new & fair" NAFTA agreement.

The Swiss Market Index decreased 0.48 percent Tuesday and finished at 8,765.88. The Swiss Leader Index weakened by 0.12 percent, but the Swiss Performance Index climbed 0.19 percent.

Novartis dropped 3.0 percent after the company paid out its dividend. Nestlé declined 0.5 percent, while Roche gained 0.3 percent.

Geberit declined 0.9 percent, LafargeHolcim fell 0.7 percent and Adecco lost 0.3 percent. Goldman Sachs reduced its price target on shares of Adecco.

Aryzta was among the top performing stocks of the session, with an increase of 3.0 percent. However, shares of the bakery group have been amongst the weakest performers since the start of 2018.

Dufry and Vifor Pharma advanced by 1.7 percent each. UBS rose 0.8 percent and Credit Suisse added 0.4 percent.

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