(RTTNews.com) – The Swiss stock market ended Friday’s session virtually unchanged. The market recovered from a weak start Friday morning and fluctuated between small gains and small losses over the course of the session. Ultimately, the market ended the session with a very slight increase.
Investors were in a cautious mood at the end of the trading week. Traders were focused on the transition of power in the United States, where Donald Trump was inaugurated as the new President.
The Swiss Market Index increased by 0.02 percent Friday and finished at 8,275.13. The Swiss Leader Index declined 0.07 percent and the Swiss Performance Index dipped 0.01 percent.
Swisscom decreased 1.1 percent after JPMorgan reduced its price target on the stock and confirmed its “Underweight” rating.
Index heavyweight Novartis fell 0.3 percent, adding to its losses from the last few days. Meanwhile, Roche rose 0.2 percent.
UBS forfeited 0.5 percent and Julius Baer dropped 0.9 percent. Meanwhile, Credit Suisse ended the day with a gain of 1.0 percent.
Syngenta climbed 1.4 percent. The proposed takeover of the company by ChemChina took a step towards completion, as they submitted their application to the US competition authority.
ABB gained 0.7 percent. The stock benefitted from solid figures from the US competitor General Electric. Zurich Insurance rose 0.5 percent after it announced another 240 job cuts in Great Britain.
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