Swiss stocks pared losses in afternoon trade
Swiss stocks fall amid a positive trading session for European equities
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Swiss stocks fell on Monday after U.S. President Donald Trump unveiled 39% tariffs on the Alpine country, in an otherwise positive session for European equities.
The Stoxx Europe 600 index provisionally closed 0.8% higher. Regionally, the U.K.’s FTSE 100 rose 0.7% on the back of stellar gains for banks. Meanwhile, France’s CAC 40 and Germany’s DAX were also up 1.1% and 1.4% respectively.
The Swiss Market Index close down 0.2%, reversing losses of about 1.8% from early in the trading session.
Swiss stocks pared losses in afternoon trade as the country’s government said it would look to offer the U.S. a more “attractive offer” to secure a deal to avoid 39% tariffs.
The Federal Council said it had decided to continue negotiations, including beyond the current Aug. 7 deadline if necessary, and that it was not currently considering any countermeasures.
The Swiss Market Index (SMI) was around 0.5% lower at 2:15 p.m. in London from an earlier loss of 1.7%. The broad Swiss All Share was down 0.44%.
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