The Swiss Stock Market Finished With A Loss At The Start Of The Week

(RTTNews) - The Swiss stock market ended the first session of the new trading week in negative territory. The market pulled back in early trade Monday, before settling into a trading range that lasted the rest of the session.

Investor caution ahead of a meeting of Eurozone finance ministers in Brussels today, was largely responsible for the pull back. The new list of reforms submitted by Greece is set to dominate the agenda. However, they are unlikely to reach a decision on approving the Greek proposals. There was little economic data released today and no economic data from the United States.

The Swiss Market Index dropped by 0.37 percent Monday and finished at 9,046.88. The Swiss Leader Index fell by 0.50 percent and the Swiss Performance Index lost 0.33 percent.

The luxury goods companies were under pressure today, ahead of a special event that will be held by U.S. tech giant Apple. The company is expected to provide further details about its new wearable smart watch, the Apple Watch. Richemont declined by 2.6 percent and Swatch fell by 2.0 percent.

Novartis was the only index heavyweight that finished in positive territory, with a gain of 0.2 percent. Roche decreased by 0.2 percent and Nestle lost 0.3 percent.

Financial stocks also turned in a weak performance Monday. Julius Baer declined by 0.8 percent. Credit Suisse fell by 0.4 percent and UBS dropped by 0.6 percent.

Transocean was among the largest decliners, with a decrease of 4.9 percent. Givuadan and Actelion both ended the session with a loss of 1.3 percent. Swisscom fell by 1.1 percent and SGS dropped by 1.0 percent.