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The Swiss Stock Market Climbed After Recovering From Weak Start

The Swiss stock market got off to a weak start Friday, but quickly recovered and turned positive in the morning. The market settled into a sideways trend in the afternoon, but took out the highs of the day going into the close.

The final trading day of the quarter proved rather uneventful. The large number of U.S. economic reports failed to have much of any impact on trading. Traders continue to monitor the progress on the proposed U.S. tax reform.

The Swiss Market Index increased by 0.50 percent Friday and finished at 9,157.46. The SMI ended the trading week with an overall gain of 0.2 percent and finished the third quarter with an increase of 2.8 percent.

The Swiss Leader Index climbed 0.68 percent Friday and the Swiss Performance Index added 0.50 percent.

Aryzta advanced 3.3 percent. The stock rose on reports in the Irish press that the bakery product group will be separated from La Rousse Foods.

Swatch climbed 1.6 percent, extending its winning streak to six sessions. Shares of Richemont also finished higher by 1.4 percent.

Zurich Insurance increased 1.9 percent and Swiss Re gained 1.7 percent. Baloise advanced 1.5 percent and Swiss Life added 1.1 percent.

Dufry rose 1.3 percent, Adecco gained 1.4 percent and Partners Group closed up by 1.7 percent.

The index heavyweights all finished slightly to the upside Friday. Novartis increased 0.4 percent, while Roche and Nestlé each added 0.1 percent.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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