BRUSSELS (dpa-AFX) - The Swiss stock market traded in the green during the first half of Monday's session, thanks to reports of easing tensions between the U.S. and China on trade. However, the market turned lower in the afternoon along with the rest of Europe following an increase in the value of the Euro.
Traders also turned cautious after the U.S., the U.K., Germany, France, and various other European countries in expelled Russian diplomats in response to a nerve agent attack on a former spy. Former Russian spy Sergei Skripal and his daughter Yulia were hospitalized after being exposed to a nerve agent in the U.K. earlier this month.
The Swiss Market Index decreased by 0.70 percent Monday and finished at 8,509.29. The Swiss Leader Index dropped 0.65 percent and the Swiss Performance Index lost 0.63 percent.
Credit Suisse declined 1.9 percent, Lonza weakened by 1.7 percent, Dufry surrendered 1.4 percent and Logitech lost 1.4 percent. Sika also finished lower by 1.3 percent. The next chapter in the fight against a takeover by Saint-Gobain is reportedly approaching its conclusion.
Givaudan dropped 2.2 percent after it began trading on an ex-dividend basis.
Zurich Insurance climbed 3.7 percent. Swatch advanced 0.6 percent, Vifor Pharma gained 0.5 percent, Kuehne + Nagel rose 0.4 percent and Baloise added 0.1 percent.
The index heavyweights all finished in the red. Novartis decreased 1.2 percent and Roche fell 0.7 percent. Roche's lung-cancer treatment saw positive results.
Nestlé also finished lower by 1.0 percent. Royal Bank of Canada trimmed its price target on the stock.
Copyright RTT News/dpa-AFX