The Swiss Stock Market Closed Friday With A Slight Loss

(RTTNews) - The Swiss stock market ended Friday's trading session with a modest decline. After a volatile start to the session, the market was range-bound for the majority of the day. The market turned positive briefly in the afternoon, but later slipped back into negative territory.

The Swiss Market Index declined by 0.15 percent Friday and finished at 8,221.80. The SMI ended the trading week with an overall loss of 0.3 percent. The Swiss Leader Index fell by 0.30 percent Friday and the Swiss Performance Index lost 0.16 percent.

Julius Baer was among the biggest decliners on Friday, with a loss of 3.5 percent. Deutsche Bank downgraded its rating on the stock to "Hold" from "Buy." UBS fell by 0.6 percent and Credit Suisse declined by 0.5 percent.

Cyclicals stocks were also weak Friday. Kuehne + Nagel dropped by 1.6 percent and Sonova lost 1.4 percent. Lonza decreased by 0.5 percent and Geberit lost 1.0 percent, due to profit taking following yesterday's quarterly reports.

ABB dropped by 1.2 percent. The head of its Power Systems division, Brice Koch, has been appointed the new CEO of OC Oerlikon. OC Oerlikon finished the day with a gain of 3.5 percent.