"There has been some OK data from the U.S. and China is talking about easing their monetary policy"
- Peter Garnry, an equity strategist at Saxo Bank A/S in Hellerup
Swiss stocks dropped snapping four-day gains on Friday. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, shed 1.16%, or 71.78 points, to 6,122.67. The broader Swiss Performance Index declined 1.09%, or 60.71 points, to 5,527.64.
"There has been some OK data from the U.S. and China is talking about easing their monetary policy," said Peter Garnry, an equity strategist at Saxo Bank A/S in Hellerup, Denmark. "We think this short-term rally doesn't have much fuel to go."
UBS, a Swiss global financial services company, is to announce its consumption indicator on Tuesday. The indicator is derived via combined reading of 5 economic indicators including consumer confidence, consumer spending, tourism, new car sales, and retail activity .
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