Swiss Stocks Slightly Lower As Banks Slump

(RTTNews) - Swiss stocks inched lower on Friday but outperformed slumping European markets ahead of a closely watched speech from European Central Bank President Mario Draghi.

The Swiss Market Index eased 0.18 percent to 8,554, with gains among Holcim and Novartis providing support.

Banks struggled as Julius Baer lost 1.6 percent and Credit Suisse fell 0.6 percent.

Siegfried said first half sales fell sharply. The stock rose 0.38 percent.

Mobilezone reported higher first half sales. Shares rose 0.49 percent.

Gurit Holding said operating profits rose. The stock added 1.4 percent.

ECB President Mario Draghi will address the conference at Jackson Hole after the European markets close.