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Stock exchange ends week up

The Swiss stock exchange ended the week on a positive note.

The Swiss Market Index (SMI), which tracks 20 leading blue-chip companies, closed up 1.41 per cent on Friday after fluctuating during the day. The broader indices also rose.

The biggest gainer was the high-tech industrial group OC Oerlikon, up 9.3 per cent. Nestlé, the two pharmaceuticals Novartis and Roche, and most insurance companies also did well. The luxury goods firms Richemont and Swatch were among the losers, dropping 3.2 and three per cent respectively.

Despite the gains, the market was still down by more than two per cent on the previous week.