Plus   Neg

The Swiss Stock Market Pulled Back On Inflation Concerns

The Swiss stock market ended Tuesday's session in the red, after staging a bit of a recovery on Monday. After a positive start to the day, the Swiss market quickly slipped into negative territory. The weak opening on Wall Street further cemented the negative mood among investors.

Traders remain concerned over rising bond yields and inflation. The U.S. will release its consumer price index on Wednesday, which should shed some light on whether inflation concerns are justified.

The Swiss Market Index decreased 0.79 percent Tuesday and finished at 8,752.64. The Swiss Leader Index dropped 0.74 percent and the Swiss Performance Index lost 0.76 percent.

Swatch declined 1.3 percent, while rival Richemont also lost 1.3 percent. The luxury goods companies were under pressure despite a solid report from French competitor Kering.

ABB forfeited another 1.3 percent. The stock has weakened by nearly 13 percent since the start of 2018.

LafargeHolcim dropped 1.2 percent and Kuehne + Nagel fell 1.1 percent. UBS weakened by 1.1 percent, Julius Baer surrendered 1.2 percent and Swiss Life lost 1.0 percent.

Clariant also finished lower by 1.0 percent. The company will present figures for the past financial year on Wednesday.

The index heavyweights all finished in the red Tuesday. Nestlé and Novartis weakened by 1.0 percent each and Roche slid 0.5 percent. Novartis subsidiary Sandoz received regulatory approval for the generic Glatopa from the U.S. FDA.

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