Swiss Stocks Add To Weekly Gains

(RTTNews) - Swiss stocks edged higher on Friday, extending this week's gains on hopes for stimulus from the European Central Bank.

The Swiss Market Index (SMI) rose 0.54 percent to 8,373.23 points. The SMI was up 1 percent for the week.

A drug made by Novartis AG to treat acute heart failure should not be approved due to efficacy issues, a panel of advisers to the U.S. Food and Drug Administration concluded on Thursday. Novartis shares rose 0.6 percent.

Meanwhile, Roche received European approval for a new formulation of its blood cancer drug MabThera. Roche shares rose 1 percent.

Lindt & Spruengli is boosting production at its U.S. headquarters by 8 to 10 percent to meet demand.

Newron reported encouraging results from a schizophrenia treatment.

IPS reported a consolidated loss of 6.2 million euros last year. The stock slipped 0.9 percent.