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Swiss Market Ends Flat

The Switzerland stock market ended flat on Friday after a choppy ride, as investors were making cautious moves after solid gains in the previous two session.

The benchmark SMI ended at 9,483.10, up 1.20 points, or 0.01% from previous close. The index touched a high of 9,509.86 and a low of 9,452.44 in the session.

On Thursday, the index ended up 94.47 points, or 1.01%, at 9,481.90, after having gained about 0.6% a session earlier.

Zurich Insurance and Novartis, both ended higher by about 1.4%. SGS gained 1.1%

Swiss RE, Sika, Adecco, Richemont and LafargeHolcim gained 0.5 to 1%.

UBS declined more than 1% after the bank announced that it has set aside about 450 million euros to appeal against a ruling by a French court that slapped a fine of 4.5 billion euro on the company for alleged money laundering.

Roche Holding shares shed 1.1%. The European Commission has reportedly approved Roche's Mabthera (rituximab) for a rare autoimmune disease.

AMS jumped more than 7%. Dufry gained 2.35% after the company reported a turnover growth of 3.7% to CHF 8,684.9 million in 2018. Organic growth was up 2.7% in the year, the company said.

Shares of u-blox Holding rose sharply, and despite paring most of its gains, ended more than 2% up from previous close. The company reported a 2.6% decline in EBITDA at CHF 71.6 million for the year 2018, compared to a year ago.

With most of the markets in Europe closing on a firm note and several sectors seeing strong buying amid easing worries about Brexit and fresh hopes about U.S.-China trade talks, the pan European Stoxx 600 ended 0.68% up.

Among the major markets in Europe, the U.K.'s FTSE gained 0.6%, while Germany's DAX and France's CAC 40 ended stronger by 0.85% and 1.04%, respectively.

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