BRUSSELS (dpa-AFX) - The Swiss stock market ended the first session of the new trading week in the red, as investors took an opportunity to cash in some profits, following the recent upward trend. Cyclical and financial stocks were under pressure, while the index heavyweights provided support.
Investors are keeping watch on the political shake-up in Saudi Arabia, as well as U.S. President Trump's trip to Asia. Traders will also be keeping watch for some important corporate earnings and economic data in the coming days.
The Swiss Market Index decreased by 0.36 percent Monday and finished at 9,288.78. The Swiss Leader Index dropped 0.40 percent and the Swiss Performance Index lost 0.32 percent.
Swatch Group dropped 2.9 percent Monday due to the release of good sales numbers for the latest edition of Apple Watch. Rival Richemont lost only 0.4 percent.
LafargeHolcim weakened by 1.1 percent, while Geberit surrendered 1.0 percent. Adecco fell 0.8 percent ahead of its third quarter report on Tuesday.
Julius Baer declined 1.2 percent, UBS dropped 0.8 percent and Credit Suisse fell 0.4 percent.
Among the index heavyweights, Novartis ended the day unchanged and Roche dipped 0.04 percent. Nestlé finished lower by 0.5 percent. Roche announced that it will reduce the workforce at its Kaiseraugst site by 235 jobs.
Dufry fell 0.2 percent after Julius Baer downgraded its rating on the stock to 'Hold' from 'Buy.'
Swisscom increased 0.5 percent, Logitech rose 0.4 percent and Sonova added 0.2 percent.
Copyright RTT News/dpa-AFX