The Swiss Stock Market Extended Its Winning Streak To 9 Weeks

(RTTNews) - The Swiss stock market ended Friday's session in positive territory. The performance cemented another week of gains for the market, bringing its winning streak to 9 consecutive weeks. The market has now more than recovered the sharp losses in January, following the surprise SNB currency cap decision. The SMI has risen to its highest level since 2007.

The positive mood among investors was driven by optimism that a deal on Greece will be reached in the next few days. Greek Prime Minister Alexis Tsipras has agreed to submit a list of reforms and is scheduled to meet with Germany's Angela Merkel again on Monday in Berlin. The positive performance of the U.S. markets also proved support in the afternoon.

The Swiss Market Index increased by 0.73 percent Friday and finished at 9,396.29. The SMI ended the trading week with an overall gain of 2.6 percent. The Swiss Leader Index climbed by 1.01 percent Friday and the Swiss Performance Index rose by 0.76 percent.

Shares of Holcim were in focus at the end of the trading week. The stock finished up by 0.5 percent after the company agreed on a revised merger deal with France's Lafarge. The companies agreed on a new exchange ratio of 9 Holcim shares for 10 Lafarge shares.

Julius Baer surged by 4.2 percent, after its price target was increased by Bank Vontobel. Credit Suisse climbed by 2.9 percent and UBS added 1.6 percent. Swiss Re gained 1.8 percent and Swiss Life rose by 2.1 percent.

Transocean increased by 2.8 percent, as the price of crude oil bounced off of their lowest prices in six years. Lonza climbed by 1.8 percent, Sika added 1.5 percent and Clariant gained 1.7 percent.