Swiss Stocks Level Off After Recent Rally

(RTTNews) - Swiss stocks inched lower on Friday, easing from record highs as traders looked ahead to next week's crucial European Central Bank meeting.

The Swiss Market Index was down 0.37 percent to 8,674.52, having touched 8,700 earlier in the week.

The ECB is expected announce stimulus measures designed to help Switzerland's euro zone neighbors.

Banks were dragged lower amid reports that the U.S. is seeking $10 billion from French lender BNP Paribas to settle some investigations.

Julius Baer lost 4.4 percent, Credit Suisse dropped 1.5 percent and UBS lost 1.4 percent.

Holcim lost 1 percent. Brazil's antitrust watchdog Cade fined six cement makers a combined $1.4 billion for fixing prices.

Novartis and Roche edged lower amid anti-competitive charges from Italian regulators.

Decent gains were recorded Dufry, Actelion and Transocean.

Newron Pharmaceuticals said it has submitted a New Drug Application (NDA) for safinamide to the U.S, Food and Drug Administration. Shares rose 0.9 percent.