The Swiss stock market got off to a positive start Tuesday, but pared its gains over the course of the morning and briefly slipped into negative territory around midday. The market recovered some ground in the afternoon and ended the day with a small gain.
Traders were in a cautious mood ahead of tomorrow's Federal Reserve announcement and the uncertainty generated by the summit between U.S. President Donald Trump and North Korean leader Kim Jong Un. While the leaders signed a joint statement pledging to work together to "build a lasting and stable peace regime on the Korean Peninsula," it was short on details of how the process would be verified.
The Swiss Market Index increased by 0.20 percent Tuesday and finished at 8,640.80. The Swiss Leader Index climbed 0.19 percent and the Swiss Performance Index added 0.27 percent.
Sika was among the top performing stocks of the day, with an increase of 1.3 percent, after its shareholders voted in favor of a simplified share structure.
Zurich Insurance was another notable gainer, finishing higher by 0.8 percent. ABB and Lafargeholcim gained 0.6 percent each and Givaudan added 0.5 percent.
Among the index heavyweights, Nestle advanced 0.5 percent, Novartis rose 0.2 percent and Roche added 0.05 percent.
Swatch Group was among the weakest performers of the session, falling 1.5 percent. Rival Richemont lost 0.5 percent.
Lonza declined 0.7 percent, Geberit weakened by 0.3 percent and Credit Suisse slid 0.2 percent.
by P2PNews Staff Writer