The Swiss Stock Market Dipped Friday, But Finished The Week With A Gain

(RTTNews) - The Swiss stock market ended Friday's session with a slight decrease, but finished the turbulent trading week with a modest gain. The market got off to a positive start, but slipped into the red late in the morning and remained there for the rest of the session.

The Swiss Market Index declined 0.21 percent Friday and finished at 8,938.65. The SMI ended the trading week with an overall increase of 0.3 percent. The Swiss Leader Index fell by 0.10 percent Friday and the Swiss Performance Index lost 0.19 percent.

Lonza dropped 1.2 percent, giving back its gains from the previous session after it reported quarterly results. Adecco weakened by 1.1 percent and Sonova surrendered 1.5 percent.

Transocean fell 1.3 percent, after shareholders approved the company's proposed termination of the third and fourth installments of its dividend.

Shares of UBS dipped 0.2 percent, ahead of its earnings report next Tuesday. Credit Suisse also decreased 0.6 percent.

Index heavyweight Nestle declined 0.5 percent, after French cosmetics group L'Oreal announced disappointing quarterly sales. Nestle is one of the largest shareholders in L'Oreal.

Luxury goods companies Swatch and Richemont both increased 0.8 percent Friday and Geberit added 0.9 percent. LafargeHolcim climbed 0.6 percent, Kuehne + Nagel rose 0.5 percent and ABB added 0.4 percent.