Swiss Stocks Follow European Markets Lower

(RTTNews) - Swiss stocks edged lower along with other European markets on Tuesday, as traders grew nervous that the European Central Bank would offer only modest stimulus later this week.

The Swiss Market Index lost 0.32 percent to 8,661.20, with big banks Credit Suisse and Julis Baer posting the biggest declines among major companies.

Drug giant Novartis AG said its investigational blood cancer drug Jakavi (ruxolitinib) achieved significant improvement in disease control in a late stage study. Shares slipped 0.2 percent.

Givaudan inched down 0.2 percent. The company said it had acquired all shares in Soliance SA, a cosmetic ingredients company.

Bakery business Aryzta reported significantly improved revenues for the third quarter, supported by both its Food and Origin businesses. The stock was up fractionally.

Oerlikon said it had completed its acquisition of Sulzer's Metco division. Oerlikon shares lost 0.7 percent.