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Swiss Stocks Pause After Strong Rally

Swiss stocks were flat Friday, holding near record highs after a quiet session in the European markets.

The Swiss Market Index was down 10.16 points, or 0.11 percent, to 9,252.50.

Cyclicals weakened amid diminished appetite for luxury makers. Givaudan and Richemont were down more than 1 percent each, while Sika lost 2 percent.

Iron Mountain said it will buy two Credit Suisse data centers in London and Singapore. CS shares were up 1.1 percent.

Roche Holding AG was up fractionally after U.S. FDA approved the first test for screening Zika virus in blood donations.

MS&AD Insurance Group Holdings Inc agreed with Swiss Re to invest $1.05 billion to take a stake of up to 15 percent ReAssure Jersey One Ltd.

Leonteq ousted co-founder Chief Executive Jan Schoch from its executive committee.

by RTT Staff Writer

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