BRUSSELS (dpa-AFX) - The Swiss stock market ended the first session of the new trading week with a slight decrease. The market got off to a weak start, before staging a bit of a comeback. However, the market slipped back into the red after the weak opening of the U.S. markets.
Investors are eagerly awaiting the policy meeting of the European Central Bank on Thursday. The prevailing opinion among traders is that the ECB will announce further stimulus measures at the meeting. Economic data from the United States was disappointing this afternoon, but investors are looking forward to the release of the U.S. employment report on Friday.
The Swiss Market Index decreased 0.11 percent Monday and finished at 8,993.10. The Swiss Leader Index climbed 0.19 percent and the Swiss Performance Index added 0.02 percent.
Shares of Aryzta were in focus Monday. The baked goods company jumped 5.8 percent after its first quarter results exceeded expectations. The company also reaffirmed its financial guidance.
Clariant climbed 1.5 percent, after a 'Buy' recommendation from Goldman Sachs.
Cyclical stocks performed well Monday. Transocean advanced 1.2 percent and Sika added 2.0 percent. Swatch gained 1.2 percent, after the watch manufacturer signed an agreement for contactless payments with Visa Europe.
Actelion rose 1.1 percent and Julius Baer finished higher by 0.8 percent.
Galenica was the weakest performer of the session, with a loss of 2.0 percent. The pull back was attributed to profit taking.
Among the index heavyweights, Novartis dropped 0.9 percent and Nestle fell 0.07 percent. Roche ended the session unchanged.
Swisscom declined 1.2 percent, while Baloise weakened by 0.5 percent and Zurich Insurance fell 0.4 percent.
In the broad market, Oerlikon sank 7.5 percent. The Industry Group is planning structural measures to realign its three remaining divisions.
Orascom DH dropped 6.9 percent. Khaled Bichara has been named as the new CEO of the real estate developer. Plans for a capital increase were also announced.
Dufry rose 2.5 percent after a 'Buy' recommendation from Deutsche Bank.
Copyright RTT News/dpa-AFX