The Swiss Stock Market Finished With A Modest Decrease

(RTTNews) - The Swiss stock market got off to a weak start Thursday, but began to recover in the afternoon. The market climbed into positive territory around mid-afternoon, but slipped back into the red going into the close.

Continued concerns over Greece and a further weakening in European bonds weighed on investor sentiment in early trade. However, the market began to recover after the IMF recommended that the U.S. Federal Reserve delay a rate hike until the first half of 2016. Investors are eagerly anticipating Friday's U.S. employment report for May.

The Swiss Market Index declined by 0.21 percent Thursday and finished at 9,253.30. The Swiss Leader Index fell by 0.15 percent and the Swiss Performance Index lost 0.20 percent.

Shares of ABB were among the top performing stocks Thursday. The stock surged by 3.6 percent, after Swedish investment company Cevian Capital announced that it has taken a 3.1 percent stake in the electrical engineering company.

Syngenta title increased by 1.2 percent, after reports that German chemical company BASF may also be interested in the company. U.S. based Monsanto has previously expressed interest in purchasing Syngenta.

Credit Suisse climbed by 1.2 percent Thursday. Meanwhile, UBS dipped by 0.1 percent and Julius Baer dropped by 1.2 percent.

Lonza gained 0.6 percent and Swiss Re advanced by 0.4 percent. Aryzta advanced by 0.7 percent, as it attempts to rebound from a sharp 2-session sell-off.

SGS rose by 0.9 percent, after it agreed to acquire DLH. The company operates vehicle inspection service centres in France.

The index heavyweights all finished in negative territory Thursday. Roche declined by 0.5 percent and Novartis lost 0.4 percent. Shares of Nestle also finished down by 0.6 percent. Sales of Maggi instant noodles have been banned in India after routine testing discovered high levels of lead in the product's seasoning.