The Swiss stock market finished slightly higher on Friday. Shares were able to stabilize following a sharp sell-off during the previous session, though a strong franc created a headwind for the market.
After setting a new annual low early in the session, the benchmark SMI finished the day higher by 0.12 percent to close at 5,998.02. The index lost 2.4 percent for the week as a whole. The SLI ticked up 0.02 percent to 929.1. The SPI advanced 0.07 percent to end at 5,514.85.
Luxury goods makers Swatch and Richemont were higher on the day, with gains of 1.7 percent and 1.2 percent, respectively. A Swatch executive told a newspaper that the company's figures were "phenomenal" though the strong franc is causing a "stomach ache."
Weatherford and Transocean were also among the day's notable gainers. The stocks were helped by the sharp recovery in oil prices after a decline the previous day.
Banking stocks were generally weak. CS declined 1.3 percent and UBS posted a modest decline.
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