Swiss stocks declined for a third consecutive day on Monday

Swiss stocks declined on Monday amid concerns Italy is next to suffer from the debt crisis as the country's yields rose to record highs. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, declined 0.25%, or 13.87 points, to 5,645.96. The broader Swiss Performance Index slid 0.20%, or 10.31 points, to 5,143.34.

"To use seasonal parlance, we believe the market's strong bounce in October will prove to be more of a trick than a treat," said a team of strategists at Morgan Stanley on Monday.