Swiss Market Slumps On Monday
(RTTNews) - The Swiss stock market extended its losing streak to three sessions on Monday, shedding almost 40 points or 0.3 percent since the middle of last week.
The SMI opened under pressure and then spent much of the day bouncing back and forth across the unchanged line before a late slump pushed it firmly into the red by the close.
The market was mired in uncertainty over U.S. trade policies after the Trump administration indicated the deadline for imposing new tariffs on U.S. trade partners has been extended until August 1st.
With the new tariffs expected to be imposed on Wednesday, the delay has led to some anxiety among traders, who generally seek clarity.
For the day, the index dipped 17.87 points or 0.15 percent to finish at 11,954.54 after trading between 11,933.89 and 11,983.33.
Among the actives, Swiss Re jumped 1.49 percent, Julius Bar Gruppe rallied 1.31 percent, Roche Holding slumped 1.12 percent, Nestle retreated 1.07 percent, UBS Group collected 0.58 percent, Novartis shed 0.52 percent, Swiss Life added 0.35 percent, Zurich Insurance gained 0.33 percent, Swisscom fell 0.18 percent, Swatch Group dipped 0.15 percent and Adecco Group was unchanged.
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