"Clearly Spain is starting to have some problems of refinancing"
- Jean Borjeix, a strategist at Platinium Gestion
Swiss stocks edged lower on Wednesday, led by a decline in banking shares. UBS lost 2.6 per cent and Credit Suisse fell 1.6 per cent.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, retreated 0.43%, or 26.92 points, to 6,173.35. The broader Swiss Performance Index lost 0.37%, or 21.15 points, to 5,684.21.
"Clearly Spain is starting to have some problems of refinancing; we may need some more bailouts in Europe -- possibly one for Spain," said Jean Borjeix, a strategist at Paris-based Platinium Gestion.
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