BRUSSELS (dpa-AFX) - The Swiss stock market ended the first session of the new trading week solidly in negative territory. The weak performance of the index heavyweights weighed on the overall market. Shares of Julius Baer were also in focus after a surprise management departure.
The Swiss Market Index decreased 0.66 percent Monday and finished at 9,264.39. The Swiss Leader Index dropped 0.75 percent and the Swiss Performance Index lost 0.59 percent.
Private bank Julius Baer Group tumbled 6.4 percent after CEO Boris Collardi resigned from his position with immediate effect.
Credit Suisse fell 1.2 percent, as investors await Thursday's Investors' Day. UBS finished lower by 0.8 percent.
Aryzta climbed 4.7 percent. Although the baked goods manufacturer posted a decline in sales in the first quarter, it was somewhat lower than feared.
Swatch declined 2.3 percent and rival Richemont lost 0.9 percent. Zurich Insurance weakened by 1.7 percent and Swiss Life surrendered 1.6 percent. Cement group LafargeHolcim decreased 1.2 percent and hearing aid manufacturer Sonova fell 1.1 percent.
Among the index heavyweights, Roche lost 0.3 percent, Nestlé fell 0.4 percent and Novartis forfeited 0.5 percent.
Copyright RTT News/dpa-AFX