The Swiss stock market ended Wednesday's session with a slight loss. Early gains eroded over the course of the day, as investors turned cautious ahead of today's speech by Federal Reserve Chairman Jerome Powell.
Traders also continue to monitor developments ahead of the meeting between U.S. and Chinese leaders at the G-20 summit. A report from the New York Times said President Donald Trump has signaled a new willingness to reach an agreement with Chinese President Xi Jinping.
The Swiss Market Index decreased by 0.04 percent Wednesday and finished at 8,894.58. The Swiss Leader Index dropped 0.15 percent and the Swiss Performance Index lost 0.02 percent.
Roche climbed 1.1 percent after its Genentech unit agreed to acquire Jecure Therapeutics Inc.
As for the rest of the index heavyweights, Novartis rose 0.1 percent, while Nestle weakened by 0.5 percent.
Credit Suisse Group fell 0.6 percent. The banking giant published its Investment Outlook for 2019, noting that equities should regain their footing in 2019, as the economy weathers various risks and expands.
UBS sank 1.2 percent and Julius Baer lost 0.8 percent.
Cement giant LafargeHolcim dropped 1.7 percent despite confirming its 2018 full year targets.
For comments and feedback contact: editorial@rttnews.com
Market Analysis