Swiss Stocks Decline, Bucking Uptrend In Europe

(RTTNews) - Swiss stocks settled lower Monday, edging into negative territory late in the session amid weakness in health care majors Novartis and Roche.

The Swiss Market Index was down 0.24 percent to 9,058, easing from a recent 7-year peak despite decent gains from big banks Credit Suisse and Julius Baer.

Credit Suisse was ordered to pay $1.8 billion to after accepting a guilty plea on charges it helped wealth U.S. clients dodge taxes. Shares rose 1.5 percent.

Fertilizer maker Syngenta said it expects $265 million in savings from cost cutting next year. Shares slipped 0.7 percent.

The European Commission has approved Novartis drug Signifor to treat a rare hormonal disorder. Shares were down fractionally, however. along with Roche.