The Swiss Stock Market Extended Recent Gains Friday

(RTTNews) - The Swiss stock market ended Friday's session in positive territory, adding to the gains of recent days. The market has finished higher in 7 of the last 8 trading sessions. Investor sentiment received a boost from Chinese inflation data and strong GDP data from Europe.

Euro area economic growth accelerated more-than-expected in the fourth quarter, gaining strength from almost all major economies in the currency bloc. The positive data has reduced the pressure on the central bank to take any immediate remedial measures to cushion growth and counteract slowing inflation. Economic data from the U.S. in the afternoon had little impact on the Swiss market.

The Swiss Market Index increased by 0.40 percent Friday and finished at 8,417.58. The SMI ended the trading week with an overall gain of 1.2 percent. The Swiss Leader Index climbed by 0.27 percent Friday and the Swiss Performance Index added 0.38 percent.

Schindler was among the biggest losers Friday, with a decrease of 1.0 percent. The elevator and escalator manufacturer presented disappointing annual results this morning.

Index heavyweight Nestle finished with a loss of 0.2 percent. The food giant reported annual figures and a somewhat disappointing outlook yesterday. However, Roche climbed by 1.7 percent and Novartis added 0.6 percent.