The Swiss Stock Market Ends Choppy Session In Negative Territory

(RTTNews) - The Swiss stock market got off to a weak start Wednesday, but quickly climbed into positive territory. The market swung between gains and losses over the course of the session, but ultimately finished lower after a late day slide.

Global economic data was on the light side Wednesday, which kept some investors on the sidelines. Investors took the opportunity to take some profits following the recent jump in equity markets. Traders will be looking forward to the release of U.S. retail sales data at the end of the week.

The Swiss Market Index decreased 0.25 percent Wednesday and finished at 8,208.90. The Swiss Leader Index rose 0.10 percent, but the Swiss Performance Index lost 0.18 percent.

Shares of Adecco were in focus today, after it reported a 7 percent increase in its second quarter net profit. The recruiter ended the session with a gain of 2.47 percent.

The luxury goods companies were among the best performing stocks of the session. Swatch jumped 3.76 percent and Richemont added 2.17 percent. The stocks continue to recover from the losses of the past few weeks.

Geberit advanced 0.56 percent after Kepler Cheuvreux raised its price target on the stock.

Credit Suisse was the top performer among the financial stocks, with an increase of 1.68 percent. Julius Baer increased 0.02 percent, but UBS finished down by 0.15 percent.

The index heavyweights all finished in the red Wednesday. Novartis dropped 1.11 percent and Roche weakened by 0.52 percent. Shares of Nestle also closed lower by 0.38 percent.