The Swiss stock market is showing mild gains in mid-day trading on Friday, stabilizing after a sell-off the previous day left it at a new low for the year.
Economic concerns and the impact of a strong franc helped spur Thursday's decline. Data from the U.S. will help drive trading during the afternoon.
After extending its annual low early in the day, the benchmark SMI is higher by 0.07 percent in mid-day trading, sitting at 5,995.22. The SLI is up by 0.21 percent at 930.78. The SPI is up by 0.09 percent at 5,516.11.
Luxury goods stocks Swatch and Richemont are showing gains on the day, with advances of 2.6 percent and 1.7 percent, respectively. Though an executive at Swatch told a newspaper that the strong franc is causing them a "stomach ache," bargain hunters sent shares higher.
A recovery in oil prices is helping shares of Weatherford and Transocean, which are up by 1.6 percent and 0.7 percent, respectively.
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