The Swiss Stock Market Finished In The Red Friday

(RTTNews) - The Swiss stock market ended the final trading session of August in negative territory. The market got off to a positive start Friday, but quickly dropped into the red and remainder there for the majority of the session. Investor sentiment continues to be impacted by the uncertainty surrounding the situation in Syria.

The U.K. parliament on Thursday voted against military strikes in Syria after seven hours of debate. Prime Minister David Cameron's defeat raises the prospects of the U.S. acting alone against the civil-war torn country.

The Swiss Market Index declined by 0.23 percent Friday and finished at 7,745.97. The SMI ended the trading week with an overall decrease of 3.3 percent. The Swiss Leader Index fell by 0.39 percent Friday and the Swiss Performance Index lost 0.20 percent.

Financial stocks remained under pressure at the end of the trading week. Credit Suisse dropped by 1.9 percent and UBS lost 0.4 percent. Julius Baer declined by 1.7 percent. Swiss Life fell by 2.2 percent and Baloise decreased by 1.6 percent.

Cyclical stocks were also among the decliners Friday. Adecco declined by 2.3 percent and Holcim lost 1.5 percent. ABB finished down by 1.2 percent, while Geberit fell by 1.1 percent. Richemont decreased by 1.1 percent and Swatch by 1.3 percent.