"The market is extremely nervous before the Greek government gives an answer on the haircut that will be applied to their debt for international private creditors"
- John Plassard, director at Louis Capital Markets SA
Swiss stocks dropped on Monday. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, declined 0.10%, or 6.28 points, to 6,147.03. The broader Swiss Performance Index shed 0.08%, or 4.31 points, to 5,575.60.
"The market is extremely nervous before the Greek government gives an answer on the haircut that will be applied to their debt for international private creditors," said John Plassard, director at Louis Capital Markets SA in Geneva.
"It can be expected that the Greek government won't keep their promise about the public spending cuts, so the level of the haircut will be closely watched."
Swiss State Secretariat for Economic Affairs is to announce unemployment rate on Wednesday. Jobless rate rose 0.1 per cent to 3.1 per cent in December.
© Dukascopy Bank