Swiss Market Index Settles Above 8,700 For First Time Since 2007

(RTTNews) - Swiss stocks edged higher on Friday, with the Swiss Market Index closing above 8,700 for the first time since December 2007.

(SMI) rose to 0.11 percent to 8,703.84 for a small weekly gain. There were few catalysts to drive trading today, but some positive U.S. housing news gave a modest boost in the afternoon.

Credit Suisse continued to push higher with a 1.4 percent gain, days after announcing a deal to pay the U.S. government to settle a tax evasion suit.

Julius Baer was up 1.2 percent for a second day of solid gains.

Food giant Nestle lost 0.4 percent and Swisscom dropped 1.2 percent.