Markets Update Markets Update Stocks Swiss Stocks Decline After Fed Minutes, Spanish Bond Sale
Stocks Update
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- Published on Wednesday, 04 April 2012 12:45
- Written by RTT News
Swiss stocks fell for a second day as minutes from the Federal Reserve’s last meeting reduced expectations for additional monetary stimulus and demand declined at a Spanish bond auction.
Transocean Ltd. dropped 2.4 percent as a Brazilian federal prosecutor sued the world’s largest operator of offshore drilling rigs over an oil spill. Holcim Ltd. (HOLN), the second-biggest cement maker, retreated 2 percent, following a gauge of European construction companies lower.
The Swiss Market Index (SMI), a measure of the largest and most actively traded companies, sank 0.7 percent to 6,212.62 at 2:28 p.m. in Zurich. The volume of shares changing hands in SMI- listed companies was 4.8 percent higher than the average over the past 30 days, according to data compiled by Bloomberg. The broader Swiss Performance Index lost 0.8 percent. Full story