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The Swiss Stock Market Pulled Back On Global Growth Concerns

The Swiss stock market ended Friday's session firmly in negative territory. Global equity markets were under pressure at the end of the trading week following the release of a pair of weaker than expected Chinese economic reports.

The Swiss Market Index decreased by 1.15 percent Friday and finished at 8,713.68. The Swiss Leader Index dropped 1.19 percent and the Swiss Performance Index lost 1.16 percent.

Index heavyweight Roche dropped 1.7 percent. Morgan Stanley initiated coverage on the stock with an "Overweight" rating.

Nestle declined 1.1 percent and Novartis lost 0.6 percent.

The weak Chinese data weighed on shares of the luxury goods companies. Swatch Group fell 2.5 percent and rival Richemont surrendered 2 percent.

Julius Baer decreased 2.1 percent, Credit Suisse weakened by 1 percent and UBS lost 0.8 percent.

Givaudan slid 0.5 percent after it revealed that it has entered into exclusive negotiations to acquire Albert Vieille.

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