1620 GMT [Dow Jones] SMI ends a few ticks lower at 7935.89 as investors continue to focus on when the US Federal Reserve may begin tapering stimulus. Transocean drops 0.6% after a UBS downgrade to neutral. Givaudan falls 1.5% after a similar rating change by J Safra Sarasin on concerns that the company's margins will weaken. Banks fall with UBS sliding 1.9%, Julius Baer down 1.7% and Credit Suisse off 1.5%. Novartis rises 1.4% after the US Food & Drug Administration grants one of the firm's drugs breakthrough therapy status; rival Roche adds 0.8%. (zurichdjnews@dowjones.com)

 
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Givaudan (PK) (USOTC:GVDNY)
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