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European Market Updates

The Swiss Stock Market Finished Nearly Unchanged Friday

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

The Swiss stock market ended Friday's trading session nearly unchanged from the previous day. The market finished solidly to the downside during Thursday's session. Investors were hesitant to take a position heading into the weekend, due to uncertainty regarding which direction the market will go next week.

The mood among investors remained one of nervousness at the end of the trading week. The comments made by Fed Chairman Ben Bernanke on Wednesday triggered the recent sell-off in equity markets. Investors are unsure when the Fed will begin to taper its recent monetary stimulus and what will happen once they do.

The Swiss Market Index finished virtually unchanged Friday at 8,168.78. The SMI ended the trading week with an decrease of 1.3 percent. The Swiss Leader Index increased by 0.14 percent and the Swiss Performance Index added 0.01 percent.

Roche climbed by 1.0 percent Friday, after its diabetes test was granted marketing approval but the U.S. FDA. Novartis fell by 0.3 percent and Nestle dipped by 0.08 percent.

Sonova was one of the top performing stocks Friday, with a gain of 1.6 percent. Syngenta climbed by 1.4 percent, after Nomura reiterated its "Buy" rating on the stock and increased its price target. Other notable gainers were Kuehne + Nagel, which rose by 0.6 percent, and Richemont, which added 0.5 percent.

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