Swiss stocks fell, with the country’s equity benchmark posting its longest streak of weekly losses since November, as China’s economy slowed more than forecast and concern about the euro-region debt crisis gained.
ABB Ltd. (ABBN), the world’s biggest power-grid supplier, led a drop in shares sensitive to economic growth. Cie. Financiere Richemont SA, the second-largest maker of luxury goods, also retreated. UBS AG (UBSN) and Credit Suisse Group AG (CSGN), the country’s two biggest banks, followed a gauge of European lenders lower.
The Swiss Market Index (SMI) slipped 0.9 percent to 6,072.12 at the close in Zurich. The measure of Switzerland’s biggest and most actively traded companies sank 1.5 percent this week, its fourth straight decline. The gauge has still gained 2.3 percent in 2012 as the euro area sought to contain its debt crisis and as U.S. economic reports surpassed estimates. The broader Swiss Performance Index decreased 0.8 percent today.
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