BRUSSELS (dpa-AFX) - The Swiss stock market ended Friday's session in the green, adding to the gains of the previous two sessions. The late-week recovery helped the market to finish the week with a substantial gain.
Global markets have been in recovery mode in recent days, following the lead of the U.S. markets. Investors appear to be getting more comfortable with rising bond yields and the potential for rate hikes from the Federal Reserve.
The Swiss Market Index increased by 0.77 percent Friday and finished at 8,986.72. The SMI ended the trading week with an overall gain of 3.5 percent. The Swiss Leader Index climbed 0.77 percent Friday and the Swiss Performance Index added 0.76 percent.
Schindler advanced 1.0 percent Friday after it reported results for the full year that were in line with expectations.
Aryzta climbed 2.3 percent and Kuehne + Nagel gained 1.6 percent. Lonza and Swatch finished higher by 1.5 percent each. Geberit rose 1.5 extending Thursday's recovery.
Novartis increased 1.5 percent and Roche added 0.9 percent. Roche announced the acquisition of U.S. company Flatiron Health.
Shares of Nestlé finished up by 0.1 percent. The food giant reported disappointing results on Thursday.
Clariant gained 2.9 percent, extending its recovery from the previous session. Credit Suisse downgraded its rating on the stock to 'Underperform.'
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