"The political vacuum in Greece is not conducive to building confidence"
- Christian Schmidt, a technical analyst for equities at Helaba Landesbank Hessen-Thueringen
Swiss stocks declined for a fifth straight day on Wednesday amid the political impasse in Greece.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, lost 0.70%, or 41.67 points, to 5,936.13. The broader Swiss Performance Index fell 0.66%, or 36.64 points, to 5,551.38.
"It barely seems possible to form a government coalition which is for or against the austerity measures," said Christian Schmidt, a technical analyst for equities at Helaba Landesbank Hessen-Thueringen in Frankfurt.
"The political vacuum in Greece is not conducive to building confidence. Worries are justified that further financial aid will be frozen and the country will become insolvent."
© Dukascopy Bank