Swiss Stocks Rise But UBS Slides On Fears Of Massive French Fine

(RTTNews) - Swiss stocks inched higher Friday, as most of Europe cheered an upbeat U.S. jobs report for September.

The Labor Department said that the U.S. unemployment rate unexpectedly fell to 5.9 percent, its lowest level in over six years.

The Swiss Market Index edged up 0.33 percent to 8,683.53, led by gains from Actelion and Credit Suisse.

UBS might be fined up to $6.3 billion if found guilty in an investigation in France into whether it helped wealthy customers dodge taxes, according to Le Temps newspaper. Shares dropped 0.86 percent.

One of Roche's leukemia drugs was rejected by British regulators, but shares were up 0.47 percent.

Salix Pharmaceuticals Ltd and Cosmo Pharmaceuticals SpA have cancelled their merger agreement, blaming a "changed political environment". Cosmo shares jumped 7 percent.