NVS Novartis AG

ZURICH--SMI falls 0.40% to 8409.13, with half of the shares in the index showing losses for the day. Novartis (NOVN.VX) tumbles 1.9%, the biggest decliner in the index, after the pharmaceutical firm posted profit and sales figures for the first quarter that were below analysts' expectations. Actelion (ATLN.VX), the biggest biotech firm in Europe, posted the second-largest decline of 1.72%. Others ending the day with declines include UBS (UBSN.VX), down 0.11%, and fellow banking giant Credit Suisse (CSGN.VX), down 0.07%. Julius Baer (BAER.VX), up 0.47%, and Zurich Insurance (ZURN.VX), up 0.24%, are among the gainers.

Write to Zurich bureau at djnews.zurich@dowjones.com

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