The Swiss stock market ended Friday’s session with a modest loss. Bank stocks were under pressure after a disappointing report from UBS. Investor sentiment also took a hit from today’s weaker than expected U.S. GDP report.
Despite Friday’s weak performance, the Swiss market ended the week with an overall gain. The mood among investors remained relatively positive, as U.S. President Donald Trump spent his first week in office honoring some of his election promises.
The Swiss Market Index decreased by 0.31 percent Friday and finished at 8,379.57. The SMI ended the trading week with an overall gain of 1.3 percent. The Swiss Leader Index dropped 0.65 percent and the Swiss Performance Index lost 0.25 percent.
UBS was among the weakest performing stocks of the session, with a loss of 4.5 percent. The banking giant posted a 22 percent drop in its quarterly profit, hit…