The Swiss Stock Market Pulled Back At The Start Of The New Trading Week

(RTTNews) - The Swiss stock market ended the first session of the new trading week with a loss, extending the weakness of the previous trading week. The market traded with a lack of direction Monday, bouncing back and forth between 9,060 and 9,120 points.

The attitude among investors was described as nervous Monday. Investors remain concerned over the situation in Greece. The Greek government and creditors are resumed their talks in Brussels on Monday after the both parties failed to reach an agreement on deal last week. Greek Prime Minister Alexis Tsipras will meet with Germany's Chancellor Angela Merkel and French President Francois Hollande in Brussels on Wednesday. Meanwhile, leaders at the G7 meeting threatened the possibility of new sanctions against Russia.

The Swiss Market Index declined by 0.49 percent Monday and closed at 9,060.49. The Swiss Leader Index fell by 0.38 percent and the Swiss Performance Index lost 0.46 percent.

British pharmaceutical firm Shire is reportedly considering a 12 billion British pound or $18.32 billion bid to acquire Actelion. Shares of Actelion surged by 5.8 percent, bringing the stock to a new all-time high.

Syngenta dropped by 1.6 percent. The company has rejected a second takeover proposal from U.S. company Monsanto. Syngenta stated that the only change by Monsanto was to add a wholly inadequate reverse regulatory break fee to its proposal.According to Syngenta, Monsanto's second letter represents the same inadequate price, same inadequate regulatory undertakings to close, same regulatory risks and same issues associated with dual headquarters' moves.

Aryzta decreased by 2.4 percent, after Vontobel reduced its price target on shares of the bakery group. Aryzta reported disappointing results last week and lowered its outlook.

The index heavyweights all finished modestly to the downside Monday. Novartis declined by 0.7 percent and Roche fell by 0.6 percent. Shares of Nestle also decreased by 0.4 percent.