The Swiss Stock Market Climbed Despite Weakness Among Financial Stocks – Markets Insider

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(RTTNews) – The Swiss stock market ended Friday’s session with a modest gain. After a brief dip into negative territory in the morning, the market remained stuck in a range throughout the day.

The index heavyweights provided support to the overall market Friday. However, financial stocks were under pressure after a trio of major U.S. banks reported results.

The Swiss Market Index increased by 0.34 percent Friday and finished at 9,034.57. The Swiss Leader Index climbed 0.29 percent and the Swiss Performance Index rose 0.37 percent.

Givaudan was among the top performing stocks of the session, with an increase of 2.4 percent. Clariant climbed 1.7 percent, Sika gained 1.3 percent and Lonza added 1.1 percent.

Index heavyweight Roche increased 1.2 percent and Novartis rose 0.3 percent.

Credit Suisse declined 0.8 percent and UBS fell 0.1 percent. Bank stocks were under pressure after U.S. bank JPMorgan Chase reported results that fell short of expectations. Julius Baer also weakened by 1.1 percent.

Among the insurance stocks, Bâloise dropped 0.5 percent and Swiss Re fell 0.3 percent. Among the cyclicals, Dufry declined 0.6 percent and LafargeHolcim surrendered 0.4 percent.

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