Shutterstock photo(RTTNews.com) - The Swiss stock market fluctuated between small gains and losses throughout Friday's session, but ultimately finished with a loss. Trading activity was choppy as investors maintained an attitude of caution due to the annual meeting of central bankers.
Federal Reserve Chair Janet Yellen refrained from discussing monetary policy in her prepared remarks at the Fed's economic policy symposium in Jackson Hole, Wyoming. Yellen focused on the topic of financial stability a decade after the onset of the financial crisis. European Central Bank President Mario Draghi is due to speak later today.
The Swiss Market Index decreased 0.41 percent Friday and finished at 8,906.18. The SMI ended the trading week with an overall increase of 0.4 percent. The Swiss Leader Index dropped 0.28 percent Friday and the Swiss Performance Index lost 0.36 percent.
Index heavyweight Nestlé dropped 1.0 percent, which weighed on the overall market. Roche slid 0.2 percent and Novartis fell 0.3 percent.
Sika, Dufry, LafargeHolcim and Swiss Re all decreased by 0.7 percent each. Swiss Re was under pressure due to Hurricane Harvey, which will soon hit Texas.
Clariant climbed 0.9 percent and Lonza gained 0.6 percent. Credit Suisse rose 0.5 percent, while UBS lost 0.2 percent.
Richemont increased 0.3 percent. The stock has been steadily increasing since the start of the trading week, having received a boost from the latest Swiss watch export data.
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