The Swiss Stock Market Snapped A 4-Day Losing Streak Friday

(RTTNews) - The Swiss stock market ended Friday's trading session with a small gain. The market snapped a 4-session losing streak, which resulted in over a 200 point reduction. The better than expected U.S. jobs report for November was the driving force behind today's gain.

U.S. job growth came in stronger than expected this afternoon and the unemployment rate fell to a 5-year low. The Federal Reserve makes monetary policy decisions in particular on the strength of the labor market. Investors believe the Fed will act soon to begin tapering its stimulus measures.

The Swiss Market Index increased by 0.50 percent Friday and finished at 8,066.07. The SMI ended the trading week with an overall loss of 2.4 percent. The Swiss Leader Index climbed by 0.42 percent Friday and the Swiss Performance Index gained 0.47 percent.

Givaudan was one of the largest decliners Friday, falling by 2.1 percent. Nestle announced that it is selling its entire stake in the fragrance and flavor maker. Nestle increased by 1.1 percent. The sale of the investment raised speculation about further divestments by Nestlé, particularly its 30 percent stake in L'Oreal.

Financial stocks finished in positive territory Friday. Credit Suisse advanced by 1.1 percent and UBS added 0.7 percent. Julius Baer also gained 1.2 percent.

Notable gains were also posted by Geberit, which climbed by 1.9 percent at the end of the trading week. Holcim increased by 1.3 percent, Swatch rose by 1.0 percent and Swisscom gained 0.9 percent.