BRUSSELS (dpa-AFX) - The Swiss Stock Market finished higher Friday, bouncing back from yesterday's weak performance. Thursday's pullback followed the policy statement from the European Central Bank and comments from its President, Mario Draghi.
Traders kept a close eye on comments made by US President Trump in Davos. Trump called on companies to invest in the US and did not preclude a return of his country to the TPP Transpacific Trade Agreement. US economic data proved mixed Friday, with GDP coming in weaker than expected and durable goods orders topping expectations.
The Swiss Market Index increased by 0.34 percent Friday and finished at 9,515.56. The SMI ended the trading week with an overall gain of 0.1 percent. The Swiss Leader Index climbed 0.33 percent Friday and the Swiss Performance Index also added 0.33 percent.
Specialty baker Aryzta tumbled 8.9 percent, following yesterday's steep decline. The stock suffered several downgrades after Thursday's profit warning.
Givaudan fell 1.7 percent despite the perfume maker posting strong full-year results.
Baloise dropped 0.9 percent, Swiss Re declined 0.7 percent and Dufry lost 0.6 percent.
Vifor Pharma climbed 2.9 percent after Credit Suisse raised its price target on the stock.
Clariant rose 2.0 percent, recovering some of the ground its lost yesterday after the exit of major shareholder White Tale.
The luxury goods companies performed well at the end of the trading week, following the better than expected results reported by French competitor LVMH. Swatch increased 0.7 percent and Richemont climbed 0.9 percent.
The index heavyweights all finished with modest gains Friday. Novartis advanced 0.6 percent, Nestlé gained 0.2 percent and Roche added 0.1 percent.
Copyright RTT News/dpa-AFX