The Swiss Stock Market Finished To The Downside Tuesday

(RTTNews) - The Swiss stock market ended Tuesday's session in negative territory. The market began the session to the upside and briefly re-crossed the 8,000 point level, before slipping into the red after the first hour of trade.

Confidence among German investors unexpectedly deteriorated in July, falling to 36.3 points from 38.5 points in June. In the afternoon, the U.S. reported a slightly larger than expected increase in industrial production and an unexpected improvement in homebuilder confidence. Investors will be watching for comments from Fed Chairman Ben Bernanke when he testifies before the U.S. House on Wednesday.

The Swiss Market Index declined by 0.83 percent Tuesday and finished at 7,932.79. The Swiss Leader Index fell by 0.83 percent and the Swiss Performance Index lost 0.81 percent.

Kuehne + Nagel dropped by 3.3 percent Tuesday. The stock was up 2 percent yesterday, following the release of its earnings report. The decline was largely attributed to profit taking.

Holcim dropped by 2.5 percent Tuesday, after Exane BNP downgraded its rating on the stock to "Neutral" from "Outperform." Richemont declined by 2.5 percent and Swatch lost 1.5 percent. Transocean decreased by 2.5 percent and Adecco fell by 1.5 percent.

The index heavyweights also finished in the red on Tuesday. Roche lead the way, with a decline of 1.9 percent. Novartis fell by 0.7 percent and Nestle lost 0.2 percent.