The Swiss Stock Market Fell Further On North Korea Concerns
Swiss Stock Market Fell Further The Swiss stock market ended Friday’s session solidly in negative territory, adding to the losses of the past few sessions. The smaller than expected increase in U.S. consumer prices and a slight recovery on Wall Street failed to provide sustained support for the European markets. Investors remain in a nervous mood due to the escalating tensions between North Korea and the United States.
The Swiss Market Index decreased by 0.74 percent Friday and finished at 8,884.04. The SMI ended the trading week with an overall loss of 3.2 percent. The Swiss Leader Index dropped 0.73 percent Friday and the Swiss Performance Index lost 0.74 percent.
Swiss Stock Market Fell Further
The continued geopolitical concerns weighed heavily on the financial stocks Friday. UBS and Credit Suisse fell by 1.0 percent and 1.3 percent respectively, while Julius Bäer finished down by 1.8 percent.
Zurich Insurance weakened by 1.0 percent and Swiss Life surrendered 0.8 percent.
Adecco fell 0.5 percent, adding to the losses of the previous session. The company reported disappointing second quarter results yesterday.
Vifor Pharma tumbled 3.3 percent after ZKB reaffirmed its “Underweight” rating on the stock.
The index heavyweights all finished in the red Friday. Roche slipped 0.3 percent and Novartis lost 0.7 percent. Shares of Nestlé also finished lower by 1.0 percent.
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