The Swiss stock market ended Friday's session in the red. Not even defensive or cyclicals managed to escape the downward trend. The main cause of the decline was the apprehensions over the second bail-out package for Greece. The U.S. trade balance data and consumer confidence numbers release in the afternoon failed to have much impact on trade.
The approval of a second bailout package for Greece was deferred by Eurozone finance ministers on Thursday. Greece will need to ratify a new set of austerity measures in order to receive the 130 billion euros aid to finance its debts.
The Swiss Market Index fell by 66 points Friday, closing at 6,130, a loss of 0.63%. The Swiss Leader Index dropped by 0.79% and the Swiss Performance Index finished down by 0.58%.
Credit Suisse dropped by 2.9% Friday, extending its losses from the previous session. The stock had fallen by 3.5% on Thursday after the company released disappointing figures. UBS also declined by 2.8% Friday. Julius Baer fared much better, with a gain of 2.0%.
Nobel Biocare also continued to decline Friday, finishing with a loss of 2.4%. The company's stock was sharply lower on Thursday after it reported weak results.
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