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The Swiss Stock Market Finished Higher After U.S. Jobs Report

The Swiss stock market ended Friday's session with a modest gain, capping off a positive weekly performance. The market was range-bound for much of the day, but popped higher in the afternoon following the release of the U.S. jobs report.

The closely watched U.S. jobs report showed much stronger than expected employment growth in February, although the report also showed a slowdown in the pace of wage growth.

U.S. President Donald Trump signed proclamations imposing tariffs on steel and aluminum imports Thursday, but exempted Canada and Mexico. Trump has also agreed to meet North Korean leader Kim Jong Un by May.

The Swiss Market Index increased by 0.40 percent Friday and finished at 8,931.85. The SMI ended the trading week with an overall gain of 3.5 percent. The Swiss Leader Index climbed 0.43 percent and the Swiss Performance Index added 0.49 percent.

UBS decreased 0.5 percent after the bank has again increased its provisions for litigation and regulatory matters in 2017.

Meanwhile, Credit Suisse advanced 0.5 percent and Julius Baer rose 0.4 percent.

Vifor Pharma climbed 2.5 percent and Sonova gained 1.6 percent. Aryzta increased 1.5 percent and Swatch added 1.2 percent. Swatch will host its annual media conference next week.

Dufry and Geberit finished higher by around 1 percent each. Both companies are set to report their annual results next week.

The index heavyweights all finished with modest gains. Nestlé advanced 0.8 percent, Roche added 0.1 percent and Novartis rose 0.3 percent.

by RTTNews Staff Writer

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