Swiss Stocks Snap 4-day Winning Streak
(RTTNews.com) - The Swiss stock market ended weak on Monday, snapping a four-day winning streak, as weak Chinese trade data raised concerns about global growth and forced investors to refrain from making significant purchases.
Disappointing eurozone industrial production data too weighed on sentiment.
Also, traders stayed wary of picking up stocks due to the ongoing government shutdown in the U.S. and on concerns about Brexit.
The Swiss Market Index ended down 67.90 points, or 0.77%, at 8,760.32. The Index ended with a modest gain of about 0.3% at 8,828.22 on Friday.
The Swiss Leader Index ended down 0.65% and the Swiss Performance shed about 0.72% today.
Geberit, the most prominent loser in the SMI index today, shed 3.5%. Julius Baer declined by 2.3%. The private bank said today that it proposed Romeo Lacher, the current chairman of Swiss stock market operator SIX Group, as its new non-executive chairman.
Swiss Life Holding declined by 2.2%, while ABB, Sika and Novartis ended lower by 1.3 to 1.5%.
Among the gainers, Swiss Re, UBS Group, Lafarge Holcim and Credit Suisse moved up 2 to 2.5%. Swatch Group, Givaudan and Richemont gained 0.3 to 1.5%.
In Eurozone economic news, a preliminary report from the statistical office Eurostat showed Eurozone's industrial production decreased at a faster-than-expected pace in November. Industrial production decreased a seasonally adjusted 1.7% from October, when it edged up 0.1%, revised from 0.2%. Economists had expected a 1.5% slump.
On a year-on-year basis, industrial production fell a calendar adjusted 3.3% in November after a 1.2% increase. Economists had predicted a 2.1% slump.
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