BRUSSELS (dpa-AFX) - The Swiss stock market ended the first session of the new trading week with a small increase. The market was stuck in a sideways pattern throughout the session, as investors exercise caution due to political uncertainty in the U.S. and Germany.
Germany's Social Democrats voted over the weekend to enter into coalition talks with Chancellor Angela Merkel's government, helping end months of political uncertainty in Europe's largest economy.
Meanwhile, the U.S. government shutdown has entered its third day as lawmakers continue to struggle to reach an agreement on a spending bill to reopen the federal government.
The Swiss Market Index increased by 0.20 percent Monday and finished at 9,529.13. The Swiss Leader Index climbed 0.15 percent and the Swiss Performance Index added 0.14.
Banking giant UBS rose 0.4 percent after it reported a 2.22 billion-franc ($2.3 billion) loss for the fourth quarter as a result of a large writedown related to the new U.S. tax overhaul.
Credit Suisse climbed 1.1 percent and Julius Baer gained 1.0 percent.
Dufry was the top gainer of the session, with an increase of 2.6 percent. The company announced Friday that it has set the terms for its planned IPO of Hudson.
Geberit and Swisscom both finished higher by 0.7 percent and Logitech added 0.6 percent.
Index heavyweight Roche climbed 0.6 percent Monday. Nestlé gained 0.3 percent and Novartis added 0.1 percent.
Luxury group Richemont lost 1.6 percent after it launched an offer to take full control of Yoox Net-a-Porter. Shares of Italian online luxury retailer Yoox Net-a-Porter soared more than 24 percent.
Copyright RTT News/dpa-AFX