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Swiss Stocks Move Moderately Higher To Extend Upward Trend

Extending the upward trend seen over the past several sessions, Swiss stocks moved moderately higher over the course of the trading day on Friday.

The market benefited from recent upward momentum despite concerns about the ongoing U.S. government shutdown and skepticism about a potential trade deal between the U.S. and China.

The Swiss Market Index ended the day up 0.3 percent to 8,828.22, while the Swiss Leader Index and the Swiss Performance Index also rose 0.3 percent.

Shares of Richemont jumped 2.8 percent. The Swiss luxury goods group reported that its third quarter total sales climbed 25 percent from last year, despite headwinds in some of its markets.

Construction firm Lafargeholcim also climbed 1.4 percent after Bank of America upgraded its rating on the company's stock to Buy from Underperform.

Index heavyweights Roche, Nestle, and Novartis posted more modest gains on the day.

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