The Swiss Stock Market Finished With A Modest Decrease

(RTTNews) - The Swiss stock market was little changed during Tuesday's session and ended the day with a slight decline. The sharp drop in the Chinese stock market weighed on investor sentiment, after China's Shanghai Composite Index plunged 6.2 percent.

The market fluctuated for the majority of Tuesday's session. Investors were cautious ahead of the release of the minutes from the Federal Reserve's most recent meeting tomorrow. Traders will be watching for any clues as to when the central bank plans to begin raising interest rates.

The Swiss Market Index decreased by 0.07 percent Tuesday and finished at 9,383.60. The SMI reached an intraday high of 9,416 points. The Swiss Leader Index fell by 0.06 percent and the Swiss Performance Index lost 0.07 percent.

Luxury goods companies were under pressure, due to the renewed concerns over China. Shares of Swatch dropped by 1.8 percent and Richemont fell by 1.0 percent.

SGS declined by 1.4 percent and Geberit surrendered 0.7 percent. Clariant, ABB and Syngenta all decreased by 0.5 percent each.

Transocean was among the best performing stocks of the session, with an increase of 3.6 percent. The volatile stock had finished solidly to the downside during the previous session.

Julius Baer climbed by 0.8 percent and Credit Suisse added 0.6 percent. However, UBS ended the day with a loss of 0.3 percent.

Shares of Swisscom advanced by 0.9 percent Tuesday. The company is slated to release its results for the first half of the year tomorrow.

The index heavyweights finished with mixed results. Novartis rose by 0.2 percent, but Roche fell by 0.3 percent. Nestle also finished with a loss of 0.1 percent.

Emmi surged by 8.6 percent, after its surprising earnings and margin development. The company also increased its EBIT guidance.

Lindt & Sprüngli climbed by 2.4 percent, after its first half results exceeded analysts' expectations.