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The Swiss Stock Market Climbed Again Friday

The Swiss stock market closed to the upside again Friday, extending gains from the previous seven days of trading. Friday's gains brought the SMI to its highest level since the summer of 2011. Financial stocks were again a source of strength during the trading day.

Trading activity was overall relatively quiet, despite the day's triple option expiration. The disappointing industrial production and consumer sentiment reports from the U.S. in the afternoon led to no significant change in trend.

The Swiss Market Index rose by 0.14 percent Friday, closing at 6,341.33. The Swiss Leader Index gained 0.17 percent and the Swiss Performance Index finished higher by 0.20 percent.

Financial stocks were again among the top gainers on Friday. Swiss Life climbed by 3.1 percent today and Credit Suisse gained 1.5 percent. Baloise increased by 1.2 percent, ZFS by 1.2 percent and UBS finished higher by 0.4 percent.

Transocean was the standout performer of the session, with a gain of 4.9 percent. Shares of Actelion rose by 2.9 percent and Swisscom closed higher by 0.8 percent.

by RTTNews Staff Writer

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