The Swiss Stock Market Managed A Slight Increase Despite Roche Weakness

(RTTNews) - The Swiss stock market ended the first session of the new trading week with a slight gain. The weak performance of index heavyweight Roche weighed on the overall market, coupled with the timid gains on Wall Street. Investors were also cautious ahead of the high volume of corporate earnings reports that will be released in the coming days.

The events in Turkey over the weekend had little negative impact on market sentiment. Turkey has arrested 6,000 people after a failed coup, with President Erdogan vowing to purge state bodies of the "virus" that caused the revolt.

The Swiss Market Index increased 0.07 percent Monday and finished at 8,161.60. The Swiss Leader Index climbed 0.24 percent and the Swiss Performance Index added 0.17 percent.

SGS was the weakest performing stock of the session, with a loss of 4.8 percent. The company reported earnings for the first half of the year that fell short of expectations.

Meanwhile, Givaudan increased by 2.4 percent after its profit for the first half of the year exceeded expectations. Earnings per share were 39.62 francs, higher than 36.69 francs a year ago.

Sika was also among the gainers, with an increase of 2.0 percent. LafargeHolcim climbed 1.2 percent and Lonza rose 1.3 percent. Baloise advanced 1.0 percent and Swiss Life added 1.1 percent. Credit Suisse also finished higher by 0.9 percent.

Shares of Dufry weakened by 1.1 percent after its price target was cut by UBS.

Roche decreased 0.9 percent, after it announced that the Phase III GOYA study of Gazyva plus CHOP chemotherapy in people with previously untreated diffuse large B-cell lymphoma did not meet its primary endpoint.

Novartis climbed 0.6 percent, ahead of its financial report tomorrow. Shares of Nestles also closed up by 0.6 percent.