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The Swiss Stock Market Ended The Week With A Strong Gain

11/23/2012 12:56 PM ET

The Swiss stock market ended Friday's trading session in the green, despite a rather slow start. The market climbed into positive territory in the afternoon, after the U.S. markets returned to active trading, following the Thanksgiving holiday.

Confidence among German businesses improved unexpectedly in November, which provided a boost to investor sentiment. However, there were concerns on Friday that the EU meeting in Brussels on the region's long-term budget may not reach a deal due to disagreement among member states.

The Swiss Market Index climbed by 0.54 percent Friday and finished at 6,715.09. The SMI gained 3.2 percent for the week. The Swiss Leader Index increased by 0.60 percent and the Swiss Performance Index added 0.53 percent.

Credit Suisse ended the session with a gain of 1.8 percent, while UBS advanced by 1.0 percent. However, Swiss Life was the top gainer among the financials, with an increase of 3.2 percent. Swiss Re added 0.2 percent and Zurich Insurance finished higher by 0.3 percent.

Clariant advanced by 2.9 percent Friday and shares of Adecco rose by 2.7 percent. Sonova climbed by 1.7 percent, while Lonza and Actelion both gained 1.0 percent.

by RTT Staff Writer

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