The Swiss Stock Market Finished Slightly Lower & Down For The Week

(RTTNews) - The Swiss stock market ended Friday's session with a slight decrease. The market ended lower for four out of the five sessions, finished the week with a significant decline. Corporate earnings remain in focus, with reports coming from UBS, Lonza and Geberit.

Economic activity in the U.S. increased by more than expected in the third quarter. Real gross domestic product climbed by 2.9 percent after rising by 1.4 percent in the second quarter. Economists had expected 2.5 percent growth. Investors believe the data is strong enough for the Federal Reserve to potentially raise interest rates again before the end of the year.

The Swiss Market Index decreased 0.20 percent Friday and finished at 7,908.57. The SMI ended the trading week with an overall loss of 1.6 percent. The Swiss Leader Index rose 0.2 percent Friday, but the Swiss Performance Index dropped 0.13 percent.

Shares of UBS climbed 2.4 percent. The bank reported third quarter results and warned of tough markets. Competitor Credit Suisse ended the day with a gain of 0.1 percent.

Lonza surged 6.6 percent Friday. The pharma supplier reported stronger than expected third quarter earnings. Shares of Galenica also advanced 2.1 percent.

Meanwhile, Geberit weakened by 1.5 percent. The company reported third quarter earnings that came in weaker than anticipated.

The index heavyweights all finished with modest decreases. Roche slipped 0.2 percent and Novartis surrendered 0.4 percent. Shares of Nestlé also finished lower by 0.6 percent.

ABB dipped 0.5 percent. The stock sank 6.6 percent on Thursday following its quarterly report. SGS also forfeited 0.5 percent.

Sika declined 4.2 percent ahead of a court decision regarding whether the company's founding family can sell it to Saint Gobain.