"The market is looking for evidence of growth"
- Manish Singh, the London-based head of investment at Crossbridge Capital
Swiss stocks fell for a fourth straight day on Thursday, after reports showed that manufacturing and services contracted in the euro zone.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, retreated 0.64%, or 40.44 points, to 6,249.56. The broader Swiss Performance Index fell 0.77%, or 44.48 points, to 5,722.78.
"The market is looking for evidence of growth," said Manish Singh, the London-based head of investment at Crossbridge Capital, which has more than $2 billion under management.
"The purchasing managers' index numbers put the spotlight back on growth, and Europe's austerity measures are biting into it. Fiscal response from governments is needed and not just monetary response from central banks."
© Dukascopy Bank