SELF IMPROVEMENT

Swiss stock market is no direction

The Swiss stock exchange on Tuesday has moved sideways in narrow margins.

Since the U.S. stock market was closed yesterday because of the U.S. independence holiday, the market lacked momentum. Dealers described the business as a directionless and weak sales. After the twelve-billion-euro rescue package of Greece was a bust for now no longer an issue. Market participants now want to see in which direction is developing Wall Street, dealers said.

The blue chip SMI index traded just before closing up 0.1 percent to 6243 points. SPI also reduced the width by 0.1 percent to 5740 points.

The news is likely to remain thin in the coming days. The balance sheet until the season starts next week. The interest rate decision by the European Central Bank (ECB) on Thursday and the monthly U.S. employment report on Friday could stimulate the market but Nioche.

The heavyweight Novartis shares were up 0.3 percent. They benefited little from positive test results for a drug. According to the pharmaceutical giants showed the preliminary results of a Phase III study that a combination therapy from his medicine Afinitor and the Pfizer Aromasin funds extended the time without tumor growth significantly in breast cancer patients. By the end of the world should be made submissions.

In contrast, the Novartis announcement, expressed according to traders of PPCs to one percent of Roche into the red. Afinitor could grow into a competitor for Avastin from Roche, said one dealer. Uncertain outlook and the price target cut by the German bank weighed on the value of biotech Actelion, which fell 2.5 percent.

The shares of big banks, Credit Suisse and UBS, each one lost 0.7 percent. Title of asset managers such as Julius Baer, ​​Vontobel and EFG also tended to be weak.

After the strong recovery in the previous week were shares of cyclical companies offer something in return. ABB, Holcim, Lonza and weakened off.

By contrast, the subject title of Richemont and Swatch to order more than two percent. Dealers pointed to the sharp rise in the watch and jewelry sales in May in Hong Kong, one of the main outlets of the two luxury goods companies.

Driven by takeover speculation put the papers of Charles Voegele Fashion chain by five to 5 percent.