Big Names Lead Swiss Stocks Slightly Higher

(RTTNews) - Swiss stocks inched higher on Friday as gains among Nestle and Roche helped offset weakness in economically-sensitive cyclicals.

The Swiss Market Index rose 0.45 percent, once again outpacing gains in other markets around Europe.

Zurich Re shares were up 1.3 percent, extending strong gains from the previous session.

Roche shares rose 0.7 percent, while Novartis was flat after saying the U.S. Food and Drug Agency had requested the drugmaker submit further evidence of the efficacy of its heart failure drug RLX030

Property redevelopment company HIAG Immobilien priced its initial public offering at 76 Swiss francs per share on Friday.

Credit Suisse gained 0.6 percent in Zurich. The lender is nearing a deal to plead guilty and pay around $2.5 billion to the U.S Justice Department and regulators amid allegations that it helped wealthy Americans evade taxes, reports said.

Euro area foreign trade surplus rose more-than-expected in March. Figures from Eurostat showed that the trade surplus came in at a non-seasonally adjusted 17.1 billion euros, which exceeded economists' expectations for 16 billion euros.