Swiss Stocks Edged Down From 6-Year Highs, Transocean Falls Along With Oil

(RTTNews) - Swiss stocks were lower on Friday, easing from 6-year highs amid weakness among banks and offshore oil driller Transocean.

The Swiss Market Index lost 0.44 percent to 8,915.31.

Third-largest lender Julius Baer dropped 3 percent after reporting an unfavorable cost-to-income ratio.

UBS by and large withstood big fines for rigging forex rates this week, but shares were slightly lower Friday.

Insurance company Baloise said it expected an "exceptionally good" profit for 2014. Baloise shares rose 0.7 percent.

Flughafen Zurich reported passenger and cargo growth for the year. Shares eased 0.4 percent.

Slumping crude oil prices have hit Transocean in recent weeks. The stock shed more than 2 percent to another yearly low today.