The Swiss Stock Market Pulled Back Monday, With Weakness In Heavyweights

(RTTNews) - The Swiss stock market ended the first session of the new trading week with a modest loss. The market bucked the positive trend of the rest of Europe, largely due to the weak performance of its most heavily weighted stocks. However, cyclical stocks turned in a solid performance.

The demand for cyclical stocks was due to a shift in investor attitudes toward the question of when the Federal Reserve will begin tapering its stimulus measures. Friday's stronger than expected U.S. jobs report has investors speculating that tapering will begin soon, but not necessarily this year.

The Swiss Market Index declined by 0.12 percent Monday and finished at 8,056.33. The Swiss Leader Index rose by 0.10 percent, but the Swiss Performance Index lost 0.04 percent.

Roche was the top decliner among the index heavyweights, falling by 1.3 percent. Novartis also dropped by 0.4 percent, but Nestle gained 0.4 percent.

Among the cyclical stocks, Lonza led the gainers, with an increase of 2.1 percent. Givaudan climbed by 1.7 percent and Actelion added 1.0 percent. Richemont advanced by 1.7 percent and Swatch gained 1.0 percent.

AEVIS rose by 1.4 percent, after the hospital holding company announced plans to raise new capital.