The Swiss Stock Market Pulled Back On U.S. Concerns

(RTTNews) - The Swiss stock market finished in the red on the first day of the new trading week. The continued stalemate in U.S. budget talks remained the chief concern among investors. The partial shutdown of the U.S. government has reached day 14 and the nation's borrowing limit will be reached on Thursday.

Industrial production in the Eurozone increased at a faster-than-expected pace in August, which was viewed positively by investors. However, economic data from China was disappointing. China's consumer price inflation climbed to its highest level in seven months in September and exports declined unexpectedly.

The Swiss Market Index declined by 0.10 percent Monday and finished at 7,928.49. The Swiss Leader Index fell by 0.18 percent and the Swiss Performance Index lost 0.10 percent.

Clariant was among the largest decliners Monday, with a loss of 3.7 percent. The stock received a "Sell" recommendation from a broker. The luxury goods companies were also weak, due to the disappointing Chinese economic data. Richemont declined by 0.8 percent and Swatch fell by 1.8 percent.

Nestle dropped by 0.4 percent at the start of the new trading week. However, the rest of the defensive heavyweights finished in the green. Novartis climbed by 0.2 percent and Roche gained 0.4 percent. Nestle and Roche are both expected to report financial results on Thursday.