BRUSSELS (dpa-AFX) - The Swiss stock market pulled back Wednesday as geopolitical concerns impacted investor sentiment. The conflict in Syria has put investors on edge, as tensions have flared between the U.S. and Russia.
Russia has threatened to shoot down any U.S. missiles fired at neighboring Syria if the U.S. decides to strike Syrian bases in response to a chemical attack over the weekend. U.S. President Donald Trump has warned Russia to 'get ready' for missiles being launched at Syria.
The Swiss Market Index decreased by 0.54 percent Wednesday and finished at 8,708.44. The Swiss Leader Index dropped 0.59 percent and the Swiss Performance Index lost 0.54 percent.
Cyclical stocks were under pressure Wednesday. Lonza weakened by 2.1 percent, Sika surrendered 2.0 percent and Adecco lost 1.6 percent.
The index heavyweights all finished in the red. Novartis weakened by 1.1 percent, Nestlé fell 0.3 percent and Roche slipped 0.1 percent.
UBS decreased 0.5 percent and Credit Suisse declined 1.0 percent.
LafargeHolcim forfeited 0.6 percent, despite an 'Overweight' rating from Morgan Stanley.
Zurich Insurance climbed 1.1 percent, Givaudan rose 0.2 percent and Clariant added 0.4 percent.
In the broad market, chocolate maker Barry Callebaut tumbled 8.4 percent after its Q2 profit missed forecasts.
Copyright RTT News/dpa-AFX