The Swiss Stock Market Closed Higher Friday & Ended Positive For The Week

(RTTNews.com) - The Swiss stock market ended Friday session in the green and finished the trading week with an increase. The market received support from the positive performance of the U.S. stock markets and from the better than expected German Ifo business climate index.

The reduction in the growth forecast for the euro area by the EU Commission had little impact on the market. Investors will be watching for the results of the Italian election, which will be held this weekend. The potential return of former Prime Minister Silvio Berlusconi or a hung parliament could jeopardize the government's reform policy agenda.

The Swiss Market Index increased by 0.65 percent Friday and finished at 7,554.38. The SMI ended the trading week with a gain of 0.7 percent. The Swiss Leader Index climbed by 0.52 percent Friday and the Swiss Performance Index gained 0.62 percent.

The index heavyweights all finished to the upside at the end of the trading week. Roche climbed by 1.5 percent, after the U.S. FDA approved its T-DM1 drug for the treatment of a certain type of breast cancer. Novartis added 0.5 percent and Nestle gained 0.9 percent.

Kuehne + Nagel rose by 1.9 percent and SGS advanced by 1.6 percent. Actelion gained 1.2 percent after JP Morgan increased its price target on the stock. Clariant rose by 0.7% after Standard & Poor's increased its rating outlook to "stable".

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