Plus   Neg

The Swiss Stock Market Dropped As Nestlé Goes Ex-Dividend

The Swiss stock market ended the first day of the new trading week in negative territory. The weak performance of index heavyweight Nestlé pressured the overall market, as the food giant began trading on an ex-dividend basis.

Traders were in a cautious mood after the coalition airstrikes that were carried out in Syria late Friday. While investors appear to have accepted that the strikes were a one-time event, they remain concerned about how Syrian ally Russia will respond.

The Swiss Market Index decreased by 0.57 percent Monday and finished at 8,726.54. The Swiss Leader Index dropped 0.29 percent, but the Swiss Performance Index rose 0.06 percent.

Sika slid 0.3 percent ahead of its financial report tomorrow.

Meanwhile, ABB rose 0.1 percent ahead of its report on Thursday.

Index heavyweights Novartis and Nestlé will also report results on Thursday. Novartis weakened by 0.5 percent and Nestlé dropped 2.4 percent. Roche also finished lower by 0.3 percent.

Vifor Pharma climbed 0.7 percent, while Dufry and Zurich Insurance added 0.5 percent each.

UBS dipped 0.1 percent and Credit Suisse surrendered 0.4 percent. The bank stocks struggled despite better than expected quarter results from U.S. rival Bank of America.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT