Swiss Market Ends Lower Again

(RTTNews) - The Switzerland stock market ended lower on Friday, bucking the largely positive trend seen across Europe.

Activity was stock specific with corporate earnings reports and other news setting the mood.

Other major markets in Europe closed with solid gains, reacting to better-than-expected first quarter earnings reports from U.S. financial majors JP Morgan Chase and Wells Fargo, and on rising optimism over U.S.-China trade negotiations.

The benchmark SMI ended down 64.35 points, or 0.67%, at 9,484.91, after sclaing a low of 9,442.61 and a high of 9,548.94 in the session.

On Thursday, the index ended down 7.05 points, or 0.7%, at 9,549.26, after having shed about 0.27% a session earlier.

Alcon declined more than 3.5%, losing ground for a third straight session. Lonza Group ended nearly 3.5% down and Roche Holding shed 2.2%.

Novartis ended lower by 1.6%. Swisscom declined nearly 1%. Nestle and LafargeHolcim too closed weak.

Credit Suisse jumped almost 3%. UBS Group gained nearly 1.5%. Adecco ended 2.4% up. ABB, Richemont and Sika also closed with strong gains.

Stadler Rail shares made a splendid debut, rising to 43.10 Swiss francs, a long way up from the issue price of 38 Swiss francs. At the issue price, the company's value stood at $3.79 billion. The IPO had a price range of 33 - 41 Swiss francs per share.