"Industrial activity in the major European Union periphery countries is in a contraction mode"
- Annalisa Piazza, a London-based analyst at Newedge Group
Swiss stocks declined for a second day after a report showed Euro zone business activity shrunk in February.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies declined 0.73%, or 45.40 points, to 6,192.42. The broader Swiss Performance Index slid 0.70%, or 39.56 points, to 5,609.12.
"Industrial activity in the major European Union periphery countries is in a contraction mode," wrote Annalisa Piazza, a London-based analyst at Newedge Group, in a note to clients.
"It will take a while to see a self-sustaining improvement in the manufacturing index."
© Dukascopy Bank