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The Swiss Stock Market Dipped After Early Gains Eroded

The Swiss stock market got off to a positive start Tuesday, but began to pare its early gains after the first few hours of trade. The stock ended the session with a slight loss.

Traders continue to keep a close eye on trade issues. Reuters reported today that China will ask the WTO for permission to impose sanctions on the United States.

The Swiss Market Index decreased by 0.17 percent Tuesday and finished at 8,914.94. The Swiss Leader Index gained 0.02 percent, but the Swiss Performance Index fell 0.06 percent.

Novartis jumped 1.7 percent. Alcon, the eye care unit of the Swiss drug major, has announced its plans to locate its future global headquarters in the Canton of Geneva, Switzerland, following completion of its proposed spinoff from Novartis.

The rest of the index heavyweights ended the day in the red. Roche fell 0.9 percent and Nestle lost 0.7 percent.

Bakery business Aryzta soared 16.4 percent after nominating three new directors to its board.

Richemont dropped 1.9 percent and rival Swatch surrendered 1 percent on trade concerns.

Swiss Re declined 1.3 percent and Zurich Insurance fell 0.8 percent.

UBS and Julius Baer weakened by 0.7 percent and Credit Suisse slid 0.2 percent.

Sika climbed 0.9 percent, Lonza gained 0.8 percent and Givaudan rose 0.7 percent.

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