The Swiss Stock Market Finished A Choppy Session With Modest Gains

(RTTNews) - The Swiss stock market ended Friday's session with a modest increase and ended the trading week with a gain. This was the third consecutive positive week for the market. Trading activity was choppy Friday, as the market fluctuated between gains and losses. However, the stronger than expected U.S. jobs report and the positive performance of the U.S. markets helped the Swiss Market to finish in the green.

Employment in the U.S. increased by much more than expected in the month of February. Non-farm employment jumped by 242,000 jobs compared to economist estimates for an increase of about 190,000 jobs. The unemployment rate remained unchanged, which was in line with expectations.

The Swiss Market Index increased 0.40 percent Friday and finished at 7,982.57. The SMI ended the trading week with an overall increase of 1.3 percent. The Swiss Leader Index climbed 0.68 percent and the Swiss Performance Index added 0.52 percent.

Transocean was by far the best performing stock of the session, with an increase of 20 percent. Shares of the oil drilling service have benefited from the recovery in crude oil prices.

Julius Baer was another notable gainer, with an increase of 2.0 percent. Sonova climbed 1.8 percent, Adecco added 1.7 percent and Clariant rose 1.5 percent.

Zurich Insurance advanced 1.4 percent. Macquarie Group agreed to sell its life insurance business to Zurich Australia.

Schindler gained 0.8 percent, after Morgan Stanley rated the stock as an "Overweight."

Nestle was the lone index heavyweight to finish in the green, with an increase of 1.0 percent. Novartis fell 0.5 percent and Roche surrendered 0.3 percent.