The Swiss Stock Market Climbed Despite Trade Worries

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(RTTNews.com) - The Swiss stock market bucked the overall trade in Europe Friday, finishing the session with a modest gain. Shares of the luxury goods companies advanced despite renewed concerns over global trade and the defensive heavyweights all finished in the green.

Renewed trade war concerns weighed on the rest of Europe after President Donald Trump indicated a willingness to impose tariffs on all Chinese imports to the U.S.

The Swiss Market Index increased by 0.64 percent Friday and finished at 8,991.34. The Swiss Leader Index climbed 0.41 percent and the Swiss Performance Index added 0.58 percent.

Roche advanced 0.9 percent after the U.S. FDA granted Breakthrough Device Designation to Elecsys beta-Amyloid (1-42) CSF and Elecsys Phospho-Tau cerebrospinal fluid.

Novartis climbed 1.5 percent and Nestle added 1 percent.

Richemont gained 2.3 percent and rival Swatch Group rose 1.3 percent. The stocks continued to benefit from Thursday's strong Swiss watch export numbers despite trade concerns.

SGS increased 1.6 percent, Geberit gained 1.2 percent and Swisscom added 1.1 percent.

ABB dropped 1.4 percent and Adecco surrendered 1.3 percent.

Read the original article on RTTNews (http://www.rttnews.com/2916093/the-swiss-stock-market-climbed-despite-trade-worries.aspx)

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This article appears in: Politics , US Markets , Stocks

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