The Swiss Stock Market Extends Losing Streak

The Swiss stock market ended Friday's session in the red, extending its recent losing streak to five days. The weak dollar and rising global bond yields continued to impact sentiment.

The strong US jobs report for January also cemented the belief among investors that the Federal Reserve is likely to hike rates at its March meeting. The report said non-farm payroll employment surged up by 200,000 jobs in January after climbing by an upwardly revised 160,000 jobs in December. Economists had expected employment to increase by about 180,000 jobs.

The Swiss Market Index decreased by 0.76 percent Friday and finished at 9,220.69. The SMI ended the trading week with an overall loss of 3.1 percent. The Swiss Leader Index dropped 0.88 percent Friday and the Swiss Performance Index also lost 0.88 percent.

Swatch Group and Sika dropped by 2.3 percent each, while Clariant fell 2.2 percent and LafargeHolcim surrendered 1.6 percent.

Pharmaceutical company Vifor declined 2.2 percent and hearing aid manufacturer Sonova lost 1.9 percent.

Among the index heavyweights, Nestlé dropped 1.2 percent and Novartis fell 1.1 percent. Meanwhile, Roche climbed 0.5 percent.

Credit Suisse weakened by 1.0 percent and UBS fell 0.6 percent. Zurich Insurance rose 0.1 percent and Swiss Re gained 0.6 percent.

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