The Swiss stock market closed to the downside on Friday, along with the rest of the European markets. Investor sentiment was negatively impacted by another round of weak economic results from China.
The Swiss market got off to a slow start Friday and gradually added to its early losses as the day progressed. After the recent strength the market has demonstrated, some consolidation was to be expected.
The Swiss Market Index fell by 0.34 percent Friday and closed at 6,483.44. The SMI ended the trading week with a gain of 0.30 percent. The Swiss Leader Index declined by 0.24 percent Friday and the Swiss Performance Index lost 0.36 percent.
Shares of Nestle endured some profit taking and decreased by 1.1 percent Friday. The stock was up sharply on Thursday, following the company's strong earnings report.
Nobel Biocare dropped by 1.4 percent Friday and Sonova lost 1.6 percent. Schindler fell by 1.0 percent and Geberit finished down by 0.3 percent. However, Logitech gained 1.1 percent, after it received a "trading buy" recommendation from Credit Suisse.
by RTT Staff Writer
For comments and feedback: email@example.com