BRUSSELS (dpa-AFX) - The Swiss stock market ended Friday's session with a small increase. The market was stuck in a sideways trend for the majority of the day, hovering around the 9,400 point level. The positive performance of index heavyweight Roche provided support to the overall market.
With the flurry of central bank activity this week concluded, investors shifted their attention to U.S. tax reform. A House-Senate conference committee seeking to negotiate differences in the bills passed by the two chambers is expected to release their combined legislation later today.
The Swiss Market Index increased by 0.12 percent Friday and finished at 9,394.71. The SMI ended the trading week with an overall increased of 0.8 percent. The Swiss Leader Index climbed 0.16 percent Friday and the Swiss Performance Index added 0.05 percent.
Cement giant LafargeHolcim gained 2.1 percent after it said its executive committee will be reduced to 9 members. The company said the 30 largest country organizations will directly report to the Executive Committee and the global business functions will be merged under one leadership.
Julius Baer climbed 1.2 percent and Swiss Life rose 1.0 percent. Credit Suisse and UBS finished higher by 0.5 percent each. Richemont also advanced 1.0 percent.
Index heavyweight Roche closed up by 1.0 percent. JPMorgan has included the stock in its 'European Best Equity Ideas' list. Meanwhile, Novartis slipped 0.1 percent and Nestlé dropped 0.8 percent.
Lonza weakened by 1.8 percent and Sonova surrendered 1.7 percent. Dufry and Givaudan each lost 1.4 percent.
Copyright RTT News/dpa-AFX