(RTTNews) – The Swiss stock market ended Friday’s session with a significant increase, following the losses of the past 3 days. Bargain hunting and the rebound in crude oil prices fueled early gains.
However, the market pared its gains in late trade, following the sharp drop on Wall Street. The U.S. employment report for November came in weaker than anticipated.
The Swiss Market Index increased by 0.94 percent Friday and finished at 8,741.03. The Swiss Leader Index climbed 0.91 percent and the Swiss Performance Index added 0.91 percent.
Index heavyweight Roche gained 1.4 percent. The U.S. FDA granted approval to the company’s Tecentriq immunotherapy in combination with chemotherapy, in patients with metastatic non-squamous non-small cell lung cancer.
Nestle advanced 2 percent, while Novartis fell 0.4 percent.
Givaudan was among the top performing stocks of the day, climbing 2.3 percent.
Swiss Re increased 2 percent, Swiss Life gained 1.5 percent and Zurich Insurance added 1 percent.
Credit Suisse advanced 0.9 percent and UBS finished higher by 0.5 percent. Meanwhile, Julius Baer dropped 1.2 percent.
Richemont rose 1 percent, while rival Swatch Group slid 0.03 percent.