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The Swiss Stock Market Dropped As Defensive Heavyweights Weaken

The Swiss stock market ended the first session of the new trading week in the red. The weak performance of the defensive heavyweights pressured the overall market.

Traders were reluctant to make significant moves as they keep a close eye on high-level trade talks between the U.S. and China in Beijing. The continued partial shutdown of the U.S. government also weighed on investor sentiment.

The Swiss Market Index decreased by 0.84 percent Monday and finished at 8,535.95. The Swiss Leader Index dropped 0.25 percent and the Swiss Performance Index lost 0.62 percent.

The index heavyweights all finished with notable losses. Novartis sank 2 percent, Nestle fell 1.4 percent and Roche lost 1.2 percent.

Lafargeholcim was another notable decliner, surrendering 1.05 percent. Zurich Insurance finished down by 0.8 percent and ABB slid 0.7 percent.

Adecco and Lonza were among the to gainers of the session, rising 1.5 percent each. Sika also closed higher by 0.9 percent.

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