The Swiss Stock Market Clung To A Small Gain

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(RTTNews.com) - The Swiss stock market got off to a positive start Friday, but pared its gains in early trade and settled into a sideways patter for the majority of the session.

Traders turned cautious due to concerns over the trade war brewing between the U.S. and China. The U.S. has imposed tariffs on 34 billion dollars worth of Chinese imports and China quickly responded in kind. President Trump then escalated matters by saying the U.S. could soon impose tariffs on more than $500 billion in Chinese imports.

The Swiss Market Index increased by 0.27 percent Friday and finished at 8,697.42. The Swiss Leader Index climbed 0.26 percent and the Swiss Performance Index added 0.32 percent.

The positive performance of the index heavyweights provided support to the overall market at the end of the trading week. Nestle climbed 0.7 percent, Novartis rose 0.4 percent and Roche added 0.1 percent.

Lafargeholcim advanced 1.2 percent after it was awarded a 4-year pavement contract by Highways England.

Givaudan was another notable gainer, with an increase of 1.2 percent. Geberit and Swisscom finished higher by 0.7 percent each.

Financial stocks struggled on Friday. Julius Baer and Credit Suisse weakened by 0.3 percent each, while UBS gained 0.1 percent. Swiss Life fell 0.5 percent and Zurich Insurance lost 0.2 percent, while Swiss Re added 0.05 percent.

Read the original article on RTTNews (http://www.rttnews.com/2911549/the-swiss-stock-market-clung-to-a-small-gain.aspx)

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This article appears in: Politics , US Markets , Stocks
Referenced Symbols: CS ,

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