The Swiss Stock Market Slid Further On Concerns Over Italy

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(RTTNews.com) - The Swiss stock market fell again Wednesday, adding to the losses of the previous session. Investors remain concerned over the political situations in both Italy and Spain. The turmoil in both countries sparked worries about the future of the European Union.

Italian equities rebounded Wednesday on reports that the major parties in Italy are calling for President Sergio Mattarella to dissolve parliament immediately and conduct fresh elections as early as July.

The Swiss Market Index decreased by 0.68 percent Wednesday and finished at 8,578.68. The Swiss Leader Index dropped 0.60 percent and the Swiss Performance Index lost 0.62 percent.

Among the index heavyweights, Nestle declined 1.1 percent and Roche fell 1 percent. Novartis slid 0.1 percent. The company's Promacta drug will get a priority review from the U.S. FDA.

Bank stocks were under pressure again Wednesday. Julius Baer dropped 1.8 percent and Credit Suisse lost 1.1 percent. UBS also finished lower by 0.4 percent.

Richemont decreased 1.1 percent, while rival Swatch Group rose 0.1 percent.

ABB weakened by 0.9 percent, Adecco surrendered 0.8 percent and SGS lost 0.7 percent.

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This article appears in: Politics , US Markets , Stocks

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