The Swiss Stock Market Finished With A Slight Decrease

(RTTNews) - The Swiss stock market ended Tuesday's session with a modest decline, extending its losses from the previous session. The market slipped below the 9,400 point level Tuesday, but managed to regain some ground and close above that level.

The weaker than expected U.S. retail sales report was the largest drag on investor sentiment Tuesday. The stronger than expected Eurozone industrial production result helped to offset the disappointing U.S. report. Investors were also cautious ahead of Wednesday's European Central Bank meeting.

The Swiss Market Index fell by 0.16 percent Tuesday and closed at 9,415.62. The Swiss Leader Index and the Swiss Performance Index also decreased by 0.16 percent each.

Shares of Sika were in focus Tuesday, due to the company's general meeting. Trading in the stock was suspended in the afternoon and remained that way at the close. The stock was down 0.2 percent, before the halt. There was a showdown at the meeting between the heirs of the founder and the Board over the proposed sale to France's Saint-Gobain.

Kuehne + Nagel dropped by 2.0 percent, following its disappointing first quarter report. Adecco declined by 1.4 percent, Schindler dropped by 1.1 percent and Lonza lost 0.9 percent. The luxury goods stocks also finished in the red. Swatch fell by 0.5 percent and Richemont dipped by 0.4 percent.

The index heavyweights were down modestly. Roche decreased by 0.3 percent and Novartis fell by 0.2 percent. Shares of Nestle finished unchanged.

Transocean was among the best performing stocks, rising by 3.9 percent. Clariant also gained 3.3 percent, after several banks increased their price targets on the chemical company's stock.