Swiss Stocks Flat Amid Weaker Banks

(RTTNews) - Swiss stocks were basically flat on Friday, ending a choppy week on another lackluster note.

Banks were in focus amid increased regulatory scrutiny in the U.S, while health care majors moved on drug-related news.

The Swiss Market Index rose 0.24 percent to 8,562.11.

Banks were mixed amid word that BNP Paribas will plead guilty to helping some countries to avoid US sanctions and will pay an $8.9 billion fine.

UBS was down 0.6 percent, Julius Baer lost 0.4 percent, and Credit Suisse rose 0.6 percent.

The U.S. FDA approved Ranbaxy Laboratories Ltd's generic version of Novartis AG's blood pressure drug Diovan. Shares rose fractionally.

Roche says that European regulators had recommended approval of its drug Avastin as a treatment for women with ovarian cancer. Shares were up 0.8 percent.